The U.S. Treasury Department announced that individuals and corporations can donate shares of stock to ‘Trump accounts,’ government-backed newborn investment accounts created as part of U.S. President Donald Trump’s tax and immigration law.
How it Works
Contributors can transfer publicly traded shares to the U.S. Treasury, which will then be contributed to Trump Accounts for eligible children. The accounts are set to formally launch to mark the United States’ 250th anniversary.
The federal government will contribute $1,000 for every child born starting in 2025 through 2028. Parents and guardians can create accounts by completing the Internal Revenue Service ‘Form 4547’ and choosing how the money is invested while the child is still a minor.
The Treasury Department announced five investment funds in which account holders can place the government’s initial cash contribution. These funds track the performance of leading Wall Street indexes and are among the most widely traded exchange-traded funds by retail investors.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
