President Donald Trump's accounts for babies just got a new chunk of change. The founder and CEO of Dell Technologies announced he is giving more than $6 billion to the newborn accounts.

Part of Trump's mega-legislation passed in July, the "Trump accounts" will come with a one-time $1,000 federal government investment. That seed money for babies born during Trump's current term, plus any other contributions, will grow with the performance of the stock market. Trump hopes contributions like Michael and Susan Dell’s, which will add an estimated $250 to 25 million accounts, will inspire other donations from businesses and philanthropists.

Parents won't have access to spend the money until their kid turns 18, at which point it will function like an individual retirement account (IRA), but families can add to the accounts long before then. Here is what we know so far about the Trump accounts:

What babies are eligible for the Trump accounts?

American babies born between Jan. 1, 2025, and Dec. 31, 2028, will be eligible for the one-time $1,000 payment from the government. There are no income restrictions for the government's payment. The babies also need a Social Security number.

The Dells' contribution, however, is limited to kids living in ZIP codes with median incomes below $150,000, according to a White House release.

When will the accounts be available?

Parents can start contributing to the accounts on July 4, 2026.

On Dec. 2, the Trump administration announced Trumpaccounts.gov would provide more information. The website teases more info will come on Dec. 17.

How can I access the Trump accounts?

The Trump administration announced parents can establish their accounts via IRS Form 4547 anytime or online at trumpaccounts.gov starting mid-2026.

Money can go into, but cannot be withdrawn from, an account until the child turns 18, at which point it will function like a traditional Individual Retirement Account. Then, money can be taken out for a first-time home purchase, education expenses or to start a small business without penalty.

Parents may contribute up to $5,000 a year to the accounts, employers may contribute up to $2,500 of that, and other groups like charities and governments may make other contributions.

Contributing: Joey Garrison, Daniel de Visé, USA TODAY

Kinsey Crowley is the Trump Connect reporter for the USA TODAY Network. Reach her at KCrowley@usatodayco.com. Follow her on X (Twitter), Bluesky and TikTok.

This article originally appeared on USA TODAY: When will Trump accounts be available? Michael Dell gives $6 billion

Reporting by Kinsey Crowley, USA TODAY / USA TODAY

USA TODAY Network via Reuters Connect