A Stranger Put $250 in My Kid’s Account. Twice
Summary
A parent says their child received two $250 contributions to a Trump Account: one from payments executive Frank Bisignano, who leads the IRS, and one through a program by Michael Dell. The parent activated the account and urges other parents to do so, noting that eligible children must have an account claimed and activated to receive available funds.Key Facts
- Bisignano gave $250 to each child ages 2 to 8 in the ZIP code where he grew up, according to the account described.
- The parent says their child also received $250 through Michael Dell’s program several months earlier.
- Trump Accounts are for children under 18 who have a Social Security number.
- Funds are invested in a diversified, low-cost index fund and generally cannot be accessed until the child turns 18.
- Children born from 2025 through 2028 are eligible for a one-time $1,000 Treasury contribution, which must be elected.
- A parent or guardian must claim and activate an account through IRS Form 4547 or trumpaccounts.gov.
- The parent estimates that two $250 gifts could grow to about $1,200 by the child’s 18th birthday, assuming the stock market’s long-run average return.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
