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When can money be taken out of a Trump Account?
Short answer
Generally not before January 1 of the year the child turns 18. After that it follows traditional IRA rules.
See every step in 1 minuteTrump Accounts: which kids get the $1,000 and how to sign up
People also ask
My child was born in 2024. Do they get $1,000?›Do I have to put money in?›Who qualifies for the $1,000 Trump Account deposit?›How do I sign up for a Trump Account?›Can older children get a Trump Account?›How much can I put into a Trump Account?›Is it a scam if someone charges a fee to claim the $1,000?›
Official sources
- TrumpAccounts.gov: official sitetrumpaccounts.gov
- IRS: Form 4547, Trump Account Election(s)irs.gov
- IRS: Form 4547 instructionsirs.gov