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Ahead of\u00a0a White House\u00a0press conference on Wednesday, an update on\u00a0trumpaccounts.gov<\/a>\u00a0named the Dalios in a section on additional support,\u00a0along with\u00a0tech CEO Michael Dell<\/a> and his wife Susan.<\/p>\n \u201cRay has joined what we are calling the 50-state challenge,\u201d Treasury Secretary Scott Bessent said. <\/p>\n Approximately 300,000 children in Connecticut will receive $250 each from the Dalios\u2019 commitment. The money will go to those who live in a ZIP code where the median income is less than $150,000, according to a press release<\/a> following the announcement. About 87% of Connecticut ZIP codes meet that criteria, a CNBC analysis of Census Bureau data found.<\/p>\n<\/div>\n Earlier this month, the pilot program got a significant boost when\u00a0Michael Dell, founder and CEO of\u00a0Dell Technologies<\/a>, and his wife, Susan announced a\u00a0$6.25 billion pledge<\/a>\u00a0to help fund the new savings accounts<\/a>\u00a0for children. That money is also geared toward\u00a0lower-income families<\/a>. <\/p>\n Government investment accounts could help reduce the U.S. racial wealth gap<\/a>, according to a 2020 Morningstar analysis of so-called \u201cbaby bonds,\u201d<\/a> an investment account funded with a small deposit at birth. These have been introduced by some states and local municipalities.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n Currently, only a small percentage of families use 529 college savings plans<\/a>, another tax-advantaged savings plan for children. Fewer than one-quarter of parents have an account for their children<\/a>, and 43% had never heard of the option, according to a July survey from Credit Karma<\/a>.\u00a0\u00a0\u00a0\u00a0<\/p>\n<\/div>\n Any legal guardian \u2014 including a parent, adult sibling or grandparent \u2014 can open a Trump account on behalf of a child age 18 or younger, as long as the child is a U.S. citizen.<\/p>\n To open an account, the guardian must file IRS Form 4547<\/a>. The form can be filed separately or with your 2025 tax return. Beginning in mid-2026, you can also make open an account online at\u00a0trumpaccounts.gov.<\/p>\n Once an account is established, children born in 2025 through 2028 may receive a\u00a0one-time $1,000<\/a> contribution from the\u00a0Department of the Treasury<\/a>. There are no income requirements, and everyone is eligible for the Treasury\u2019s seed money.<\/p>\n<\/div>\nHow to open a Trump account<\/h2>\n