Treasury Secretary Scott Bessent said “600,000 families out of an estimated 25 million” have already signed up for Trump accounts since the official start of tax season on Monday.
“We want all Americans to start signing up,” he said in an interview with CNBC. Bessent also attended a summit on Wednesday with President Donald Trump to promote Trump accounts, also known as Section 530A accounts.
As of Monday, when tax filers file their 2025 tax return, they can open a Trump account by making elections on IRS Form 4547. There are two elections: one to open the account and one to receive the $1,000 “pilot program contribution.”
“Low-income families, in particular, tend to file early in the tax season because they rely on tax refunds,” said Jason Ewas, associate director at the Aspen Institute Financial Security Program, a nonprofit forum.
“There was a lot of talk this year about refunds being bigger, so that seems within the realm of possibility,” he said of Bessent’s signup figure.
