Internal Revenue Service CEO Frank Bisignano during a hearing of the House Ways and Means Subcommittee on Social Security in Washington, June 10, 2026.
Tierney L. Cross | Bloomberg | Getty Images
IRS CEO Frank Bisignano has donated to a Trump account for certain children in Brooklyn, the agency announced Thursday.
The Bisignano Family Foundation donated $250 each to the Trump accounts of eligible children ages 2 to 8 who live in Bisignano’s hometown zip code of 11234, according to the release.
“My life has been shaped by the people, schools and neighborhoods of Marine Park, Mill Basin, Bergen Beach and Flatland,” Bisignano said in a statement. “This gift is an investment in Brooklyn’s children and will support their personal wealth creation journey.”
There are fewer than 10,000 U.S. citizens under the age of 10 in that zip code, according to a CNBC analysis of the latest population estimates from the U.S. Census Bureau.
Contributions will be invested in a diversified index fund, the release states.
Expanding access to President Trump’s accounts was a priority of the Trump administration. In July, Bisignano was tasked with leading that effort.
The latest Trump account news comes weeks after the Treasury Department automatically enrolled more than 60 million children.
Trump accounts, also known as 530A accounts, are available to any U.S. citizen under the age of 18 with a Social Security number. Children born between 2025 and 2028 can also claim a one-time $1,000 pilot program contribution from the Treasury Department.
According to Treasury Department guidance, families must activate their child’s Trump account to receive donations if they are eligible.
“Tip of the iceberg”
Bisignano’s efforts come on the heels of news that Elon Musk plans to give every child in America a share of SpaceX in 2027.
Brad Gerstner, CEO of Altimeter Capital, founder of Invest America and architect of the Trump account, said on CNBC’s “Squawk Box” on Oct. 21 that Musk’s donation is the “tip of the iceberg” for philanthropy. Mr. Gerstner has pledged about $35 million to help fund investment accounts for children in his home state of Indiana.
Bisignano told CNBC’s “Squawk Box” on Oct. 8 that more gifts are planned. “They range from small to huge,” he said.
After obtaining an account, families can track their deposits on the Trump Account app, designed in partnership with Robinhood.
Robinhood CEO Vlad Tenev told CNBC’s “Squawk on the Street” on Oct. 28 that “the Trump account is a direct philanthropic effort, very efficient, direct to children…”
“I’m excited to see Elon’s donation,” he said. I’m sure there are many others.
In September, the Treasury Department issued interim regulations allowing holdings of individual stocks contributed to Trump accounts, a change from previous guidelines that allowed only diversified, low-cost index funds. The Trump administration said the measure could pave the way for millions more in donations and that many philanthropists are ready to participate.
The donations come just days before the midterm elections, when Republicans are struggling to maintain their slim legislative majorities in the House and Senate.
