What to know about Trump Accounts and automatic enrollment

NEW YORK (AP) — Your child may be enrolled in a “Trump Account” whether you realize it or not. Rolled out earlier this year, the Trump Accounts program allows parents to claim special investment accounts for children who are 18 years old or younger. And some babies are eligible to receive a one-time $1,000 contribution from the government. Now, due to automatic enrollment, the Treasury Department says that every eligible child with a valid Social Security number has a Trump Account. But parents and legal guardians would still need to formally activate the accounts if they haven’t already.