530A/Trump Accounts: A new tool for Family Wealth Management

As you may have heard, 530A accounts, which are more commonly known as Trump Accounts became available as of July 4th 2026, as a new wealth management and savings vehicle designed to help families build long-term wealth for children.

Children under the age 18 with a Social Security number are eligible to own a 530A account. Eligible U.S citizen children born from January 1, 2025, through December 31, 2028, may also qualify for a one-time $1,000 federal contribution to their account.  These are individual retirement accounts with special contribution limits, investment options and withdrawal rules until the year the child turns 18.  A parent, guardian or other authorized individual must serve as the responsible party while the child is a minor.

While a 530A account may not be right for every family and cannot be administered by Greenleaf Trust, it could be worth exploring if you:

• Have a child or grandchild born during the eligibility period and want to take advantage of the $1,000 government contribution.
• Want to jump-start long-term savings for a child or grandchild.
• Are looking for another way for parents, grandparents and family members to contribute toward a child’s future.
• Believe in the long-term growth potential of U.S. large-cap stocks, given the limited permissible investment options.
• Are comfortable allowing savings to remain invested for many years.
• Already utilize college savings plans and are looking for an additional savings vehicle.
• Have an ongoing gifting strategy and are seeking another destination for family gifts.
• Want to encourage savings and investing habits early in life.
• Have a child or grandchild without earned income who is not yet eligible to contribute to a Roth IRA.
• Work for an employer that offers contributions to 530A accounts.
• Would like to take advantage of potential third-party contributions, such as the recent $250 contribution provided by the Michael & Susan Dell Foundation to eligible account holders.

As with any financial strategy, a 530A account should be evaluated within the context of your broader financial plan. Our team is happy to help you understand how these accounts work, discuss the potential benefits and limitations and determine whether they are a right fit for your family.

Please reach out to any member of your Greenleaf Trust client centric team if you would like to learn more or discuss whether a 530A account fits into your family’s financial plan.