The Big Money Show panel will discuss how Trump accounts can assist in wealth building for children, home purchasing, and securing their financial future.
Wall Street Giant City informed its U.S. employees on Thursday that it would match federal seed contributions to newborns’ Trump accounts and further contribute to initiatives encouraging participation.
Citi circulated an internal message, as seen by FOX Business, stating that the company would add $1,000 to the Trump account of any child born to a Citi employee in the U.S. from 2025 to 2028. The federal government will also provide a matching contribution during this timeframe. Tax-advantaged savings account.
“Citi is excited to announce that we will match a $1,000 U.S. government seed contribution for children born to eligible U.S. colleagues between January 1, 2025, and December 31, 2028. This initiative is part of the comprehensive benefits package we offer,” the company detailed.
“These accounts help foster long-term savings from an early age, giving children investment assets that, hopefully, will increase over time,” Citi said. “We’re looking forward to supporting the financial health of families throughout America.”
What growth can be expected for the Trump account?
Citi plans to share further information with employees regarding the matching program and how it ties into the government’s contribution to the Trump account.
In addition, the Citi Foundation is set to donate $5 million to a non-profit organization to “raise awareness of this program, incentivize participation, and help families navigate the account opening process.”
“For many years, the Foundation has championed community-based matching savings programs, which have proven effective in improving household financial situations,” Citi noted. “We aim to enhance financial capacity and achieve milestones related to education, homeownership, and entrepreneurship. This grant expands our reach and impact.”
Bank of America, JPMorgan Chase & Co., and Steak ‘n Shake have also declared they will match the government’s $1,000 contribution.
How to determine if your child is eligible for a Trump account: “Financial Interest in the Future”
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| C | Citigroup Inc. | 115.72 | -1.75 | -1.49% |
| BAC | Bank of America Corporation | 54.94 | -0.44 | -0.79% |
| J.P.M. | JPMorgan Chase & Co. | 310.04 | -7.19 | -2.27% |
The Trump account was established under the One Big Beautiful Bill Act, enacted last year, which includes a $1,000 federal seed for children born between January 1, 2025, and December 31, 2028. The contributions will be placed in an index fund that tracks U.S. stocks.
Children under 18 born before January 1, 2025, can also open accounts, but they won’t qualify for the federal seed funding.
Following Nicki Minaj’s attendance at the White House Summit, Bessent reports that the total number of registered Trump accounts hit 1 million.
Parents may contribute up to $5,000 annually to the account, while employers can add up to $2,500 annually without influencing the employee’s taxable income.
Once they reach 18 years of age, account holders can access funds for education-related expenses or a home down payment, among other uses. Alternatively, they can choose to let the funds continue growing in the account.
The Trump administration has suggested that the Trump account is set to officially launch on July 5, 2026.
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Parents can enroll their children in this program during tax filing and more specifics about the initiative will be shared as the launch date draws closer.
