Treasury automatically enrolls more than 60 million children in Trump Accounts

Treasury said it completed automatic enrollment for Trump Accounts on Thursday, leaving more than 60 million additional eligible children with accounts ready to be claimed.

The account still needs a guardian.

Every eligible child under 18 with a valid Social Security number now has an account, according to the department. A parent or guardian must claim it through the official app before managing it or allowing contributions from family members, friends and employers.

The claiming process requires identity and relationship verification, a review of the child's information and acceptance of the account terms. Treasury also said an eligible child must have the account claimed to receive the one-time $1,000 seed contribution.