New savings scheme launches for families building child wealth from birth.

New savings scheme launches for families building child wealth from birth. Trump accounts, available starting July 2026, offer tax-advantaged growth through age 18 with no early withdrawals permitted. Parents can contribute up to $5,000 annually alongside employer contributions, with eligible newborns receiving a one-time $1,000 government-funded pilot contribution. The accounts complement existing IRAs and 529 plans but feature distinct contribution rules and investment restrictions. Setup requires IRS Form 4547 or online application at trumpaccounts.gov. Individual contributions are after-tax, while employer contributions offer pre-tax advantages. This financial tool aims to maximize long-term compounding potential for children born between 2025 and 2028, representing a new avenue for family wealth building strategies.