Treasury Appoints BNY and Robinhood to Launch "Trump Accounts" Investing App for 4 Million Enrolled Children

BNY Mellon and Robinhood to launch the Trump accounts app on July 4, managing $1,000 federal deposits for over 4 million enrolled children.

By: AXL Media

Published: Apr 7, 2026, 5:15 AM EDT

Source: Information for this report was sourced from Jessica Dickler and Kate Dore

The Formation of a Historic Financial Partnership

The U.S. Department of the Treasury has officially named Bank of New York Mellon (BNY) as the lead financial agent responsible for the management of the newly established Trump accounts. In a strategic move to leverage modern financial technology, BNY has partnered with Robinhood Markets to build a dedicated mobile application for account holders. According to BNY CEO Robin Vince, the collaboration aims to utilize Robinhood’s platform to expand market access for the next generation of American investors. The announcement, made during a CNBC broadcast, marks a significant integration of a centuries-old banking institution with a leading fintech firm to deliver a large-scale government savings program.

Federal Seed Funding and Eligibility Windows

The Trump accounts are structured as tax-deferred investing vehicles specifically designed for children born between 2025 and 2028. A cornerstone of the initiative is a one-time $1,000 deposit provided by the Treasury Department, which is slated to arrive in verified accounts on July 4. According to internal IRS data, more than 4 million children have already been signed up for the program as of March 31. Of those enrolled, approximately 1 million are currently eligible for the Treasury’s initial $1,000 pilot program contribution, representing a significant federal commitment to early-childhood financial planning.

Simplified Enrollment and Corporate Matching

To facilitate widespread adoption, the IRS has streamlined the enrollment process by allowing parents and guardians to register via a one-page form, IRS Form 4547, alongside their 2025 tax returns. IRS CEO Frank Bisignano stated that the agency is working to ensure the election process remains as simple as possible. Beyond federal funding, BNY and several other major employers have pledged to match the $1,000 seed money for the children of their U.S. employees. Parents also have the option to manage their accounts through a dedicated government portal, with an official authentication phase expected to begin in May.