Guide

Who gets the $1,000 federal deposit?

Last checked October 8, 2026

Who qualifies

• Born after December 31, 2024 and before January 1, 2029.¹
• A United States citizen.¹
• Has a Social Security number, which must be given with the request.¹
• No one has already asked for the $1,000 for that child. It is paid once per child.¹

The request is made by a person who expects the child to be their “qualifying child” for that year, a term defined in the tax code.^1,3

It is not automatic

Treasury now opens an account for every eligible child, but it cannot make the $1,000 request on a family’s behalf.² The account has to be claimed, and the $1,000 asked for.⁴ See how to claim the account.

How to ask

In the Trump Accounts app, the $1,000 can be claimed while claiming the child’s account.⁵ The IRS form for the request is Form 4547, which can also be filed with a tax return.⁶

If the person asking cannot get a Social Security number, the form takes their IRS individual taxpayer identification number instead. The child still needs a Social Security number.⁶

When it arrives

Treasury pays it straight into the child’s account, as soon as practicable after the request is made.⁷ It cannot be paid any other way, and it is not reduced to cover debts or other taxes.¹

The deadline

Proposed rules set the last day to ask as December 31 of the year the child turns 17, with no late requests.³ Those rules are not final.

How the $1,000 is treated in the account

It does not count toward the $5,000 yearly limit.⁸ It was never taxed, so it is taxable, along with its growth, when it is withdrawn.⁸ See how withdrawals are taxed.

Children born in other years

They can still have an account and receive money from family, employers and charities. Only the $1,000 depends on the year of birth and on citizenship.^8,1