Trump Accounts

We received a letter from the Department of the Treasury telling us that Astra might be eligible for a Trump Account - a strangely Indian-like naming of an account after the current elected premier. They also said they might deposit $1000 in it. Now, I'm never one to turn down a free thousand dollars so we went to set it up.

The URL they sent links to a pretty nice looking government website that links you to the iPhone and Android apps to set up an account. As far as I know you need one of these two platforms to do it.

The app itself was quite slick and it seems that all children born between Jan 1 2025 and Dec 31 2028 are eligible for the bonus. It was honestly pretty quick to use and the UI was pleasant. Its five-star rating is well-deserved. The way the account works is you file a Form 4547 with the IRS to open and elect to request the pilo contribution. The app itself covers the whole process so you don't need to do anything out of it. It only needs one parent to set everything up so we used Julie's information to do so.