# Trump Accounts Expansion Gets New Leadership

- Topic: business
- Source: CNBC
- Published: 2026-07-15
- Original: https://www.cnbc.com/2026/07/15/irs-chief-frank-bisignano-will-lead-trump-accounts-expansion.html
- Language: en
- Image: https://image.cnbcfm.com/api/v1/image/108243007-17659874052025-12-17t155939z_25590174_rc2eiia1bozs_rtrmadp_0_usa-trump-accounts.jpeg?v=1765987437&w=1920&h=1080

The US Treasury Department has appointed Frank Bisignano to oversee the expansion of Trump Accounts. Bisignano will retain his roles as IRS chief and Social Security Administration commissioner. The accounts were created to help families save for their children's future.

## Key takeaways

- The Trump Accounts allow families to save up to $5,000 per year for their children's future.
- Funds can't be withdrawn until the child turns 18, and withdrawals before age 59½ are subject to income taxes and a 10% penalty.
- Over 6.5 million families have signed up for the accounts, with more than 1.5 million eligible children enrolled.

> Summary by Daily Read Bytes. Read the original at https://www.cnbc.com/2026/07/15/irs-chief-frank-bisignano-will-lead-trump-accounts-expansion.html