The Treasury Department said Thursday that it has launched a Trump Accounts app on app stores available nationwide.
"The Trump Administration is taking another step forward in expanding opportunity for American families," Treasury Secretary Scott Bessent said in a statement. "The Trump Accounts app delivers a simple, secure way for households to begin engaging with a program designed to build long-term financial strength from day one."
The next phase of Trump accounts will include account activation for millions of American families ahead of the official launch July 4, Treasury said, with contributions starting the same day. The app was built by Bank of New York Mellon and Robinhood.
"As of today, parents and legal guardians who have already signed their children up for Trump Accounts by submitting IRS Form 4547 will begin receiving emails with instructions to complete the account setup process," according to Bessent.
Activation emails for these families will be sent out in phases between now and July 4. The app is available in the Apple App Store and Google Play or by visiting TrumpAccounts.gov.
The IRS announced the same day new features in IRS Individual Accounts that allow taxpayers to view and submit Trump Account elections, making it easier to invest in these tax-advantaged accounts.
Through IRS Individual Account, taxpayers can:
—View the latest submission status of their Form 4547, Trump Account Election(s) PDF, including next steps.
—Submit Form 4547 electronically.
Legitimate communications about Trump account activation will be sent only by email from no-reply@TrumpAccounts.Treasury.gov, Treasury said.
"Treasury will not contact you by text message or phone call about Trump Account activation. If you receive a call or text about a Trump Account, do not respond, it is likely a scam," Treasury said.
As of April 1, the IRS said that taxpayers have signed up more than 4 million children for tax-favored Trump accounts, a new individual retirement account for eligible children.
Credit: Chris Nicholls/Touchpoint Markets
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