The effort covers the 11234 ZIP code, which includes neighborhoods such as Flatlands, Marine Park, Mill Basin, and Bergen Beach where fewer than 10,000 citizens under age 10 reside. Although the Treasury Department automatically enrolled over 60 million children, households must actively finish account setup to access their balances. Families are able to track their funds through a mobile application created alongside Robinhood. The program also features a separate $1,000 direct federal deposit for infants born between 2025 and 2028.
Key points
Families must actively activate their auto-enrolled accounts to secure the government and…: Families must actively activate their auto-enrolled accounts to secure the government and private funds.
Temporary Treasury rules now allow these accounts to hold donated individual stocks along…: Temporary Treasury rules now allow these accounts to hold donated individual stocks alongside standard index funds.
Any United States citizen under the age of 18 who possesses a valid Social Security numbe…: Any United States citizen under the age of 18 who possesses a valid Social Security number is eligible for an account.
Sources checked by our analysis pipeline: 1
IRS CEO Frank Bisignano has donated to Trump Accounts for certain kids in Brooklyn, the agency announced Thursday.
The Bisignano Family Fund donated $250 apiece to Trump Accounts of eligible children ages 2 to 8 living in 11234, Bisignano's hometown ZIP code, according to the release.
"My life was shaped by the people, schools, and neighborhoods in Marine Park, Mill Basin, Bergen Beach, and Flatlands," Bisignano said in a statement. "This donation is an investment in the children of Brooklyn, giving them a boost in their personal wealth building journeys."
Within that ZIP code, fewer than 10,000 U.S. citizens are under 10 years of age, according to CNBC's analysis of the most recent population estimate from the U.S. Census Bureau.
The contribution will be invested in a diversified index fund, the release also said.
Expanding access to Trump Accounts has been a Trump administration priority. In July, Bisignano was tasked with leading that effort.
The latest Trump Account news comes weeks after the Treasury Department auto-enrolled more than 60 million children.
Trump Accounts, also known as 530A accounts, are open…
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