'Trump Accounts' May Give Way to '530As'

A new effort is underway to rebrand so-called "Trump Accounts"—investment vehicles for children funded by the federal government—in an effort to strip away political baggage and encourage broad adoption, reports Axios. The name that appears to be growing in use among tax professionals and lawyers? 530A, after the section of the legislation that created the accounts.

"For the durability of this program, there's reason to remove politics, and think of it as something that will exist beyond this administration and to encourage folks to participate," says Madeline Brown of the Urban Institute. Under the program, accounts are available to all Americans born between 2025 and 2028—with $1,000 in seed money from the Treasury automatically deposited into low-cost US stock index funds. Others under 18 can also have accounts, though without the government contribution. Once set up, families or others can deposit up to $5,000 per year.

The funds are locked until the child turns 18, at which point they can be used for education, a home, or a business. Whether "530A" will eventually become as common as "401(k)" might well be decided over the next year: The first deposits can't be made until July 2026, notes an advisory at Schwab.com, which still refers to them as "Trump Accounts."