Donald Trump to Distribute IDR 18 Million: Simply Download This App
Donald Trump to Distribute IDR 18 Million: Simply Download This App
Jakarta, CNBC Indonesia - Nearly 6 million children have registered for the Trump Account program, a new savings and investment program scheduled for official launch on July 4th in the United States.
The promise of an initial fund of up to USD 1,000 (IDR 18 million) is a major draw for many families in the United States.
According to the US Department of the Treasury, the official Trump Account app is now available on app stores across America. This app serves as the primary gateway for users to manage all activities within the account.
“The Trump administration is taking a step forward in opening opportunities for American families. This Trump Account app provides a simple and secure way for households to begin engaging in a program designed to build long-term financial strength from day one,” said US Treasury Secretary Scott Bessent.
In the coming stages, millions of US families can begin activating their accounts in anticipation of the official launch on July 4, 2026. According to the established schedule, parents or legal guardians who have already registered their children by submitting IRS Form 4547 will begin receiving emails containing complete instructions for completing the account activation process.
These notification emails will be sent in stages until the official launch date arrives.
The source of the funds distributed by Trump comes partly from contributions from US billionaires. One of them is Michael Dell, who donated USD 6.25 billion.
According to CNBC International, behind the offer of “free money,” there is a much greater benefit: a new way for children to build wealth.
The Trump Account, officially known as a 530A account, is a type of savings account specifically designed for children with special tax privileges.
The biggest advantage of opening this account early is time. By starting as early as possible, the accumulated funds have more time to grow and multiply through compound interest.
How it Works and Important Rules of the Trump Account
To avoid making mistakes and understand the applicable rights and obligations, here are the complete rules and how the Trump Account works based on the official guidelines:
- Who Can Deposit Funds?
Not only parents, guardians, or grandparents, close friends or the company where the parents work can also contribute funds to the child’s account. Deposit rules are divided into several categories:
Parents or relatives can deposit up to USD 5,000 per year using money that has already been taxed. These funds can then be withdrawn freely without tax. This limit applies until the year before the child turns 18.
Employers can deposit up to USD 2,500 each year. This amount is counted as part of the maximum limit of USD 5,000 and is not counted as taxable income for employees.
Eligible charities and local governments can also make contributions.
Initial “Free” Funds
The initial fund of USD 1,000 from the Department of the Treasury, as well as contributions from charities, local governments, or additional contributions from companies, fall into the category of pre-tax funds. This means that when these funds are withdrawn in the future, they will be subject to income tax at the rate applicable at that time.
- Account Interest
While the funds are in the account, their value will grow and develop without being taxed each year (tax payments are deferred). This allows investment profits to grow faster because they are not taxed in the middle.
- Rules When the Child is 18 Years Old
When the child reaches the age of 18, the applicable rules will change according to the standards of traditional retirement savings accounts.
Withdrawals before the age of 59.5 will generally be subject to income tax as well as a 10% penalty.
The 10% penalty does not apply if the funds are used for specific purposes, such as a down payment on a home or education expenses.
How to Register and Access
Registration is done digitally, and the public simply needs to download the official app that has been prepared to access IRS Form 4547, fill in the data, and manage the account. Registration is now open, although the account will not be fully active until July 4, 2026.