Citi to Align Federal Contributions for Employees Welcoming Newborns Under Trump Initiative
The Big Money Show panel explains how Trump Accounts could compound over time to help children build wealth, buy homes, and secure their financial futures.
Wall Street giant Citi recently announced a significant initiative aimed at supporting the financial futures of children born to its U.S. employees. The firm plans to match the federal government’s seed contribution to newborns’ Trump Accounts and will also contribute to efforts that encourage participation.
Citi’s internal message, reviewed by FOX Business, revealed that the company will contribute $1,000 to the Trump Accounts of children born to its U.S. workers between 2025 and 2028. This aligns with the federal government’s commitment to contribute the same amount to these tax-advantaged savings accounts.
“We are pleased to share that Citi will match the U.S. government’s $1,000 seed contribution to the accounts for children of eligible U.S. colleagues born between Jan. 1, 2025, and Dec. 31, 2028. This new benefit adds to the comprehensive suite of benefits that Citi provides to colleagues and their families,” the company stated.
Citi emphasized that these accounts are designed to promote long-term savings from an early age, providing children with investment assets that can grow over time. “We’re excited to play an active role in supporting the financial well-being of families across the U.S.,” the company added.
HOW MUCH COULD TRUMP ACCOUNT BALANCES GROW OVER TIME?
Citi announced it will match the government’s $1,000 seed contribution to Trump Accounts. (Gabby Jones/Bloomberg via Getty Images)
Citi also plans to provide employees with further details about participating in the matching program as more information about Trump Accounts becomes available from the federal government.
In addition, the Citi Foundation is committing $5 million to nonprofit groups that will work to raise awareness of the program, encourage participation, and assist families in completing the necessary steps to open accounts.
“The Foundation has been a longtime supporter of community-based, matched savings programs which have proven to be a powerful tool helping households build financial capability and achieve education, home ownership, and entrepreneurship goals,” Citi noted. “This grant builds on that track record and takes these efforts to a new level of scale and impact.”
Other financial institutions, including Bank of America and JPMorgan Chase, have also announced plans to match the government’s $1,000 contribution.
HOW TO KNOW IF YOUR CHILD QUALIFIES FOR A TRUMP ACCOUNT: ‘A FINANCIAL STAKE IN THE FUTURE’
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| C | CITIGROUP INC. | 115.72 | -1.75 | -1.49% |
| BAC | BANK OF AMERICA CORP. | 54.94 | -0.44 | -0.79% |
| JPM | JPMORGAN CHASE & CO. | 310.04 | -7.19 | -2.27% |
Trump Accounts were established under a provision of the One Big Beautiful Bill Act, signed into law last year. The law stipulates that these accounts will be seeded with $1,000 in federal funds for children born between Jan. 1, 2025, and Dec. 31, 2028. The funds will be invested in a broad index fund of U.S. stocks.
Accounts can also be opened for children under 18 who were born before Jan. 1, 2025, although they will not receive the $1,000 seed deposit from the government.
TRUMP ACCOUNTS HIT 1 MILLION SIGN-UPS AFTER NICKI MINAJ WHITE HOUSE SUMMIT APPEARANCE, BESSENT SAYS
President Donald Trump engages with the crowd at a Trump Accounts event. (Win McNamee/Getty Images)
Parents can contribute up to $5,000 annually to these accounts, while employers can add up to $2,500 per year without affecting the employee’s taxable income. Funds can be accessed when the account holder turns 18, allowing them to use the money for education-related expenses or a down payment on a home, among other purposes. Alternatively, the funds can continue to grow within the account.
The Trump administration has announced that Trump Accounts will officially launch on July 5, 2026. Parents can enroll their children in the program by making an election during tax filing, with more information expected to be available as the launch date approaches.
The Big Money Show panel explains how Trump Accounts could compound over time to help children build wealth, buy homes, and secure their financial futures.
Wall Street giant Citi recently announced a significant initiative aimed at supporting the financial futures of children born to its U.S. employees. The firm plans to match the federal government’s seed contribution to newborns’ Trump Accounts and will also contribute to efforts that encourage participation.
Citi’s internal message, reviewed by FOX Business, revealed that the company will contribute $1,000 to the Trump Accounts of children born to its U.S. workers between 2025 and 2028. This aligns with the federal government’s commitment to contribute the same amount to these tax-advantaged savings accounts.
“We are pleased to share that Citi will match the U.S. government’s $1,000 seed contribution to the accounts for children of eligible U.S. colleagues born between Jan. 1, 2025, and Dec. 31, 2028. This new benefit adds to the comprehensive suite of benefits that Citi provides to colleagues and their families,” the company stated.
Citi emphasized that these accounts are designed to promote long-term savings from an early age, providing children with investment assets that can grow over time. “We’re excited to play an active role in supporting the financial well-being of families across the U.S.,” the company added.
HOW MUCH COULD TRUMP ACCOUNT BALANCES GROW OVER TIME?
Citi announced it will match the government’s $1,000 seed contribution to Trump Accounts. (Gabby Jones/Bloomberg via Getty Images)
Citi also plans to provide employees with further details about participating in the matching program as more information about Trump Accounts becomes available from the federal government.
In addition, the Citi Foundation is committing $5 million to nonprofit groups that will work to raise awareness of the program, encourage participation, and assist families in completing the necessary steps to open accounts.
“The Foundation has been a longtime supporter of community-based, matched savings programs which have proven to be a powerful tool helping households build financial capability and achieve education, home ownership, and entrepreneurship goals,” Citi noted. “This grant builds on that track record and takes these efforts to a new level of scale and impact.”
Other financial institutions, including Bank of America and JPMorgan Chase, have also announced plans to match the government’s $1,000 contribution.
HOW TO KNOW IF YOUR CHILD QUALIFIES FOR A TRUMP ACCOUNT: ‘A FINANCIAL STAKE IN THE FUTURE’
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| C | CITIGROUP INC. | 115.72 | -1.75 | -1.49% |
| BAC | BANK OF AMERICA CORP. | 54.94 | -0.44 | -0.79% |
| JPM | JPMORGAN CHASE & CO. | 310.04 | -7.19 | -2.27% |
Trump Accounts were established under a provision of the One Big Beautiful Bill Act, signed into law last year. The law stipulates that these accounts will be seeded with $1,000 in federal funds for children born between Jan. 1, 2025, and Dec. 31, 2028. The funds will be invested in a broad index fund of U.S. stocks.
Accounts can also be opened for children under 18 who were born before Jan. 1, 2025, although they will not receive the $1,000 seed deposit from the government.
TRUMP ACCOUNTS HIT 1 MILLION SIGN-UPS AFTER NICKI MINAJ WHITE HOUSE SUMMIT APPEARANCE, BESSENT SAYS
President Donald Trump engages with the crowd at a Trump Accounts event. (Win McNamee/Getty Images)
Parents can contribute up to $5,000 annually to these accounts, while employers can add up to $2,500 per year without affecting the employee’s taxable income. Funds can be accessed when the account holder turns 18, allowing them to use the money for education-related expenses or a down payment on a home, among other purposes. Alternatively, the funds can continue to grow within the account.
The Trump administration has announced that Trump Accounts will officially launch on July 5, 2026. Parents can enroll their children in the program by making an election during tax filing, with more information expected to be available as the launch date approaches.
