JPMorgan, BofA will match the $1,000 ‘Trump Accounts’ for employees’ children. Here’s how to open an account

JPMorgan Chase and Bank of America are stepping up to bolster President Donald Trump’s new “Trump Accounts” initiative, announcing plans to match the U.S. government’s $1,000 seed contribution for their U.S. employees’ eligible children. But Trump Accounts have seen some surprising buy-in from philanthropic billionaires, too. Trump Accounts explainedTrump Accounts, enacted through the One Big Beautiful Bill Act, are tax-deferred investment accounts for children under 18. Individuals can contribute up to $5,000 annually, with employers, nonprofits, states, or rollovers from other Trump Accounts adding more—tracking basis for future taxes is key. Banks’ matching pledgeJPMorgan Chase will match the government’s $1,000 for employees’ children born in the pilot window.