{"id":42775,"date":"2026-04-06T14:52:03","date_gmt":"2026-04-06T14:52:03","guid":{"rendered":"https:\/\/financialrush.com\/?p=42775"},"modified":"2026-04-06T14:52:03","modified_gmt":"2026-04-06T14:52:03","slug":"robinhood-bny-to-build-trump-accounts-app","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=42775","title":{"rendered":"Robinhood, BNY to build Trump Accounts app"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108258436\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>President Donald Trump onstage at the Treasury Department&#8217;s Trump Accounts Summit, in Washington, Jan. 28, 2026.<\/p>\n<p>Kevin Lamarque | Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The U.S. Department of the Treasury\u00a0said Monday that <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/BK\/\">Bank of New York Mellon<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> will be the designated financial agent for <a href=\"https:\/\/www.cnbc.com\/2026\/03\/23\/blackrock-ceo-fink-letter-trump-accounts.html\">Trump accounts<\/a>.<\/p>\n<p>BNY will <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sb0433\" target=\"_blank\">officially manage the initial accounts<\/a> and has partnered with <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><a href=\"https:\/\/www.cnbc.com\/quotes\/HOOD\/\">Robinhood<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> to develop a yet-to-be-released Trump accounts app, according to an announcement on CNBC&#8217;s &#8220;Squawk on the Street.&#8221;\u00a0<\/p>\n<p>Launching on July 4, the tax-deferred investing accounts for children include a one-time $1,000 deposit from the Treasury for kids born between 2025 and 2028.<\/p>\n<p>BNY, along with several other large employers, <a href=\"https:\/\/www.bny.com\/corporate\/global\/en\/about-us\/newsroom\/press-release\/bny-joins-us-government-investment-initiative-for-children-expanding-access-to-savings-and-financial-opportunity-for-employees-130454.html\" target=\"_blank\">previously pledged<\/a> to\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/01\/25\/trump-accounts-employer-matches.html\">match the Treasury&#8217;s $1,000 seed money<\/a>\u00a0for children of U.S. employees. <\/p>\n<p>&#8220;For more than two centuries, BNY has supported our nation&#8217;s financial ecosystem and the people who power it, including our own employees. This initiative advances that mission in a meaningful way,&#8221; Robin Vince, BNY&#8217;s CEO said in a statement about the matching announcement.\u00a0<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 id=\"read-more-cnbc-personal-finance-coverage\" class=\"RelatedContent-header\">Read more CNBC personal finance coverage<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>In a March 6 <a href=\"https:\/\/finance.yahoo.com\/video\/robinhood-ceo-talks-private-markets-205420406.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAHTRRZPGitxdRZsXRHKB-zwwF-hyfiCf2qLg2NTllhk7-NbRAsvQ3vSVN1lEwltHu1Ahc4QAUF525jhjIEFyG7DevKA_gOSUVD-EQ_ohVk5Vp1zlY5bDSYZoTH5KJ4WTaC8knf0dBW1t1NPidhIS1IxhZ2nM1sNzwMfYPqUFwlkf\" target=\"_blank\">Yahoo Finance interview<\/a>, Robinhood CEO Vlad Tenev said the company has supported Trump accounts &#8220;from the very beginning.&#8221;  <\/p>\n<p>&#8220;We have technology resources and people that can do whatever is necessary to make the program a success,&#8221; he said. <\/p>\n<p>As of March 31, taxpayers had signed up for <a href=\"https:\/\/www.irs.gov\/newsroom\/4-million-children-have-been-signed-up-for-trump-accounts-with-1-million-claiming-the-1000-pilot-program-contribution\" target=\"_blank\">more than 4 million children<\/a> for Trump accounts, and more than 1 million were eligible for the Treasury&#8217;s $1,000 pilot program contribution, according to the IRS. <\/p>\n<p>&#8220;The IRS has been working closely with the Treasury Department to make the election process as simple and easy as possible by permitting taxpayers to fill out a one-page form when they file their tax return,&#8221; IRS CEO Frank Bisignano said in a statement.<\/p>\n<p>Parents or guardians can enroll in Trump accounts and receive the $1,000 Treasury funds by filing IRS Form 4547 with their\u00a0<a href=\"https:\/\/www.cnbc.com\/taxes\/\">2025 tax returns<\/a>\u00a0or via\u00a0<a href=\"http:\/\/trumpaccounts.gov\/\" target=\"_blank\">TrumpAccounts.gov<\/a>. The &#8220;authentication process&#8221; is expected to come in May, and the seed money will arrive on July 4.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Parents, guardians, friends and others can contribute up to $5,000 annually in after-tax dollars to Trump accounts. <\/p>\n<p>As part of the $5,000 limit, companies can deposit up to $2,500 pre-tax<strong>\u00a0<\/strong>yearly for kids of employees. The limit is\u00a0<a href=\"https:\/\/www.irs.gov\/newsroom\/treasury-irs-issue-guidance-on-trump-accounts-established-under-the-working-families-tax-cuts-notice-announces-upcoming-regulations\" target=\"_blank\">indexed for inflation<\/a>\u00a0after 2027. <a href=\"https:\/\/www.cnbc.com\/2026\/01\/28\/altimeter-capital-brad-gerstner-trump-accounts-indiana.html\">Philanthropists in multiple states<\/a>\u00a0have also committed to seed the accounts of certain qualifying families.<\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\"><a href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.cnbc.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/div>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.cnbc.com\/2026\/04\/06\/treasury-trump-accounts-bny-robinhood.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump onstage at the Treasury Department&#8217;s Trump Accounts Summit, in Washington, Jan. 28, 2026. Kevin Lamarque&hellip;\n","protected":false},"author":3,"featured_media":42776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":{"0":"post-42775","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"cs-entry","9":"cs-video-wrap"},"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/42775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42775"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/42775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/42776"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}