How to Make 530A (Trump) Accounts Work for Everyone

On July 4, 2025, Trump Accounts (now also known as 530A Accounts) were signed into law, presenting a once-in-a-generation moment to help Americans start building wealth from birth.

Babies born during the pilot period of 2025-2028 are eligible for a $1,000 federal deposit into a modified traditional IRA—if their parents/guardians open an account. In the long term, these accounts could create generations of investors and add tens of billions more to the U.S. stock market with family, philanthropic, employer, and city/state contributions.

We at the Aspen Institute Financial Security Program have been gathering leaders and thinkers around early wealth building for years, and we’re now building on that deep well of relationships and expertise to offer a credible, nuanced perspective on what’s working with this federal policy—and what could be stronger.

Our take: With thoughtful design and policy decisions such as automatic enrollment, more resources for low- and moderate-income households, high-quality accounts and investment vehicles, and no savings penalties, 530A Accounts could offer meaningful wealth-building for low- and moderate-income households. The challenge—and opportunity—now is to design these accounts in such a way that they continue beyond 2030 and work for the families that need them most.