The Trump Account is also for U.S. expats with U.S. citizen children!

 If you’re a U.S. citizen living overseas and just welcomed a new baby, a new government funded account may give your newborn a $1,000 head start to life. The so-called Trump Account is also available to U.S. expat parents. Your child may be eligible for a $1,000 government-funded savings account under the One Big Beautiful Bill Act (OBBBA). 

Here’s exactly what you need to do to open one, step by step.

(A Complete Guide for U.S. Expat Parents, 2025–2028)

🧾 Step 1: Confirm U.S. Citizenship

Under IRC § 6434(b)(1)(A), your child must be a U.S. citizen to qualify.

• Apply for a Consular Report of Birth Abroad (CRBA) and U.S. passport at your local U.S. embassy or consulate (citizenship is governed by INA § 301(g)).

• Keep copies of all issued documents.

 

🔢 Step 2: Obtain a Social Security Number (SSN)

Before you can open or fund a Trump Account, your child must have a valid SSN (IRC § 6434(b)(1)(B)).

• Apply at the U.S. embassy or consulate that handles SSA services.

• Expect 4–8 weeks for processing. You’ll also need at least one parent with a valid SSN.

👶 Step 3: Confirm “Qualifying Child” Status

The IRS uses the IRC § 152(c) definition of a “qualifying child.”
Your baby must:

• Be under 18,

• Live with you more than half the year (even if abroad),

• Not provide more than half of their own support, and

• Not file a joint return.

🏦 Step 4: Open the Trump Account in the U.S.

Once the Treasury launches the program (expected mid-2026):

• Choose a U.S. financial institution that supports non-resident account holders.

• Open the account in the child’s name, designated as a Trump Account (IRC § 530A(a)).

• You may need a U.S. mailing address.

💵 Step 5: File the Election for the $1,000 Contribution

File the official election form with the IRS once released (IRC § 6434(a)–(b)).

• The Treasury deposits the $1,000 directly into your child’s account.

• The deposit isn’t offset for tax debts and can only be made once per child.

📈 Step 6: Continue Growing the Account

After the government contribution:

• You (and others) can contribute up to $5,000 per year (IRC § 530A(b)(1)).

• Earnings grow tax-deferred, and withdrawals later follow IRA-style tax rules (IRC § 530A(d)).

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✅ Summary Checklist

Step	Action	Code Reference
1	Obtain CRBA & passport	INA § 301(g); IRC § 6434(b)(1)(A)
2	Apply for SSN	IRC § 6434(b)(1)(B)
3	Confirm qualifying child	IRC § 152(c)
4	Open Trump Account (U.S.)	IRC § 530A(a)
5	File election for $1,000	IRC § 6434(a)–(b)
6	Contribute & track growth	IRC § 530A(b)–(d)

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📅 Year-End 2025 Tip: What Expat Parents Should Do Before the Program Launch

As 2025 winds down, many new parents are already hearing about Trump Accounts — but the official program isn’t open yet. The IRS and U.S. Treasury are still finalizing implementation rules.

Here’s what that means for you this year:

1. You can’t open or fund a Trump Account yet.
The statutory start date is after July 4, 2026, so no financial institution is permitted to open an official Trump Account in 2025. Any account marketed under that name this year would not be IRS-recognized.

2. Avoid rushing to deposit funds before the system opens.
Contributions made to other custodial or savings accounts in 2025 won’t automatically convert to Trump Accounts once the program starts. It’s best to wait until Treasury issues formal guidance and approved financial institutions are announced.

3. Plan ahead for 2026 contributions.
Once the program launches, you’ll be able to:

• File the Trump Account election to claim the $1,000 federal deposit on your 2025 tax return in 2026.

• Open the official account through an eligible U.S. provider; and

• Begin contributing up to $5,000 per year for your child’s future savings.

4. Stay tuned for IRS guidance in early 2026.
Treasury regulations under IRC § 6434(d) are expected to outline how overseas parents can file the election, designate accounts, and prove eligibility from abroad.

💬 Frequently Asked Questions About Trump Accounts for Expat Parents

 

1. Can Americans living abroad open a Trump Account for their baby?

Yes. U.S. citizens living overseas can open Trump Accounts for children born abroad, as long as the child is a U.S. citizen, has a Social Security Number (SSN), and meets the qualifying child definition under IRC §152(c). There’s no requirement that you live in the United States — only that your baby shares your principal residence for more than half the year, even if that’s abroad.

2. What if my baby doesn’t have a Social Security Number yet?

You’ll need to apply for one before you can receive the $1,000 government contribution. The SSN application is handled through U.S. embassies or consulates, and typically takes four to eight weeks. Apply as soon as your child’s U.S. citizenship is confirmed through a Consular Report of Birth Abroad (CRBA).

3. Can I open a Trump Account without a U.S. address?

Technically, yes. The law (IRC §530A) doesn’t require a U.S. address, but many banks do for compliance reasons. If you live abroad, consider using a trusted relative’s address or work with a U.S. financial institution that serves expats. These firms are familiar with the documentation needed for non-resident clients.

4. When does the Trump Account program start?

The pilot program is set to begin after July 4, 2026, for children born between January 1, 2025, and December 31, 2028. The IRS and Treasury will release official guidance and election forms under IRC §6434(d). Until then, families can prepare documentation so they’re ready to act once the portal opens.

5. How do I actually receive the $1,000 contribution?

Once you open the Trump Account and file the election, the U.S. Treasury deposits $1,000 directly into your child’s account. The money doesn’t go to you as a refund; it’s a one-time federal contribution and cannot be reduced by any of your tax debts (IRC §6434(a)(2)).

6. Can I keep contributing to the account after that?

Yes. Parents, grandparents, or others can add up to $5,000 per year to the account under IRC §530A(b)(1). Earnings grow tax-deferred, meaning you won’t pay tax on interest or gains until funds are withdrawn. Qualified uses — such as education, disability, or a first home — can avoid penalties.

7. What happens if we move back to the U.S.?

Nothing changes. The account remains in your child’s name and stays valid regardless of where you live. You can continue making contributions from the U.S. or abroad, as long as you comply with regular U.S. tax reporting rules.

8. Are Trump Accounts the same as 529 plans?

Not quite. A Trump Account (IRC §530A) functions more like a child’s IRA — it’s broader in purpose and not limited to education expenses. A 529 plan is strictly for qualified education costs. Some families may choose to open both, using the Trump Account for long-term savings and the 529 for school expenses.

9. Do withdrawals get taxed later?

Yes. Trump Accounts are tax-deferred, not tax-free. Withdrawals are taxed as ordinary income under IRC §530A(d). Early withdrawals (before adulthood) may face penalties unless they’re used for specific exceptions like education, disability, or first-home purchases.

10. What if I miss the deadline to make the election?

The IRS will issue deadlines and procedures for the election once implementation begins. If you miss it, you can still open a Trump Account and contribute your own funds, but you’ll forfeit the $1,000 federal contribution under IRC §6434(a). Acting early and tracking IRS updates will help ensure you don’t miss your window.

 

🌎 Final Tip for Expat Families

Act early – Apply for your baby’s CRBA and SSN as soon as possible after birth, research expat-friendly U.S. banks, and keep all your documents ready so you can make the election promptly once the IRS releases the official form.

This small bit of planning ensures your child gets the full $1,000 boost and a lifelong connection to smart financial growth — no matter where in the world they were born.