[Trump Account to Open for Registration and Initial Funding on July 4] Odaily Planet Daily News: The United States has announced that the 'Trump Account' program will open for registration and initial funding on July 4. This program was first proposed under the Great America Act. The account allows parents to set up tax-deferred investment accounts for children under the age of 18, with contributions from family, friends, and employers. The annual maximum contribution is $5,000, with future limits adjusted for inflation. Additionally, the Trump Account permits businesses to provide subsidized contributions for employees' children, with an annual maximum of $2,500. Once the account holder reaches the age of 18, the account will automatically convert into a traditional IRA structure, allowing continued investment and additional contributions. (war.gov)