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 said Friday on CNBC’s “Power Lunch” that up to 25 million Trump accounts could be funded by mid-October.
His comments followed Thursday’s announcement by the U.S. Treasury that more than 60 million American children under the age of 18 were automatically enrolled in new tax-deferred savings and investment accounts.
It’s unclear whether Bisignano was referring to family and employer contributions, or grants such as a one-time $1,000 pilot program from the Treasury Department or Dell’s $250 grants earmarked for 25 million children.
The Trump account, also known as a 530A account, opened on July 4 and is open to all U.S. children under 18 with a Social Security number. Children born between 2025 and 2028 will also be eligible to receive $1,000 in seed money from the Treasury.
Other free money may also be available. Michael Dell and his wife Susan have pledged $6.25 billion to provide additional funding for children born between 2016 and 2024 who do not qualify for federal seed money. According to the Dell Foundation, this initiative has the potential to provide investment funds for approximately 25 million American children.
News of the latest Trump account comes as recent national polls show Democrats in the lead and the midterm elections are approaching.
If eligible, families must apply for an auto-enrollment account through the Trump Account app to receive the Treasury’s $1,000 seed money and other deposits.
Expanding access to investment accounts was a priority of the Trump administration. Bisignano was tasked with leading that effort.
Bisignano said during an appearance on “Power Lunch” that about 72 companies have pledged to match donations to the children of their employees, and philanthropists in several states have pledged additional donations to specific eligible families.
“There are a lot of other donors who would like to be a part of this,” Bisignano said Friday.
