Fast Company/2h ago
Your child could soon have a ‘Trump account’ even if you never signed them up
Your child could soon have a ‘Trump account’ even if you never signed them up. The U.S. Treasury Department will soon begin automatically enrolling children in “ Trump accounts ,” which could cause the ranks of those enrolled to grow nearly tenfold. Though parents previously had to submit an IRS form to open this new type of tax-advantaged investment account, Treasury released temporary regulations on Tuesday that would permit automatic enrollment. Beginning as soon as Thursday, any child who satisfies the age and Social Security requirements to be eligible for a Trump account, and who doesn’t already have one, will.