Your child may have $250 in their Trump account: Here’s why

(NEXSTAR) – Your child may have been automatically enrolled in a Trump account , and already received their first deposit.

Trump accounts, intended to serve as a savings fund for children to use after turning 18 , officially launched earlier this year. Earlier this month, the Treasury Department confirmed it had created more than 60 million accounts for children who hadn’t yet been enrolled.

Prior to the auto-enrollment, Trump accounts had been established for roughly 7 million children. As many as 70 million may qualify, according to Treasury Secretary Scott Bessent.

The auto-enrollment was, at least in part, to allow a $6.25 billion contribution pledge from Michael and Susan Dell to send $250 payments to more eligible children , The Hill previously reported.

Those payments were fully disbursed as of Friday, Oct. 9, officials said.

Not sure if your child received that payment? There are multiple ways to check.

First, you can confirm your child’s eligibility.

In total, 25 million children were expected to qualify. They needed to have been born between 2016 and 2024, and live within a specific ZIP code. Officials explained that contributions were made to children within the lowest-income ZIP codes and expanded until 25 million payments were disbursed. Ultimately, ZIP codes in which the median family income was $117,300 or less were included. Children living on military bases also received contributions.

Children in foster care are expected to receive contributions next year, though “details [are] still being determined.”

If you’re uncertain whether your child matches the above requirements, you can search your ZIP code on Invest America .

You could also check your child’s Trump account, since the $250 payments have already been sent out.

If you did not previously register your child for a Trump account, either online or via your taxes , you will need to claim the automatically created account. To do so, according to the Treasury Department, you’ll need to download the Trump Accounts app, which is available for iOS and Android devices. There, you will have to verify your identity and relationship to the child, review their information, and accept the account terms.

Children too young to qualify for the $250 payments may instead qualify for a $1,000 one-time contribution from the Treasury Department. Others may be eligible for funds from state or philanthropic efforts .

Any U.S. child with a Social Security number who is under the age of 18 qualifies for a Trump account. If their Social Security card reads “Valid for Work Only with DHS Authorization,” the IRS says their Social Security number is considered “valid only as long as the DHS authorization is valid.”