Some scammers create websites that look like official government websites and may ask for your child’s Social Security number, your Social Security number, banking information, or passwords and login information. Their goal is to steal personal information.

Only use official government websites.  (Web address begins with https and ends in .gov, has a banner at the top stating “An official website of the United States government.”)

Type the website address directly into your browser yourself.

Be cautious of links sent through emails, texts, or social media.

Scammers may claim:

“Pay a processing fee to activate your child’s $1,000.”

Or:

“Send payment now to claim your government benefit.”

These offers are warning signs.

The federal contribution is part of the program itself. Be very careful if anyone asks you to pay money to receive a government benefit. [irs.gov], [irs.gov]

Never send money to claim a benefit. Avoid paying with gift cards, wire transfers, or cryptocurrency. Verify information through official government websites, not rumors,  Reddit, or Google AI Results.

A scammer may pretend to be from the IRS, the Treasury Department, or another government agency. They may ask for personal information or account details.

Hang up if something does not feel right. Never share passwords over the phone. Contact the agency using phone numbers listed on its official website.

A child’s Social Security number can be valuable to criminals.

Scammers may use stolen information to open accounts, commit fraud, or create fake identities.

Because children often do not have a credit history, identity theft may go unnoticed for years.

Store Social Security cards in a secure place. Share your child’s information only when necessary. Monitor financial statements and records.

Before age 18, 530A Accounts have specific investment rules and are generally limited to certain broad-market funds. [investor.gov], [irs.gov]

Be cautious if someone promises guaranteed returns, fast profits, special cryptocurrency options, or secret investment opportunities.

Be skeptical of promises that sound too good to be true. Research before making financial decisions. Use trusted educational resources. Don’t trust resources the potential scammer provides, only use trusted sources.

You may receive messages saying:

“Your child’s account is locked.”

Or:

“Click here to verify your account.”

These messages often lead to fake websites designed to steal information.

Do not click unexpected links. Delete suspicious messages. Visit official websites directly instead of using links in emails or texts.

Just like ANY scam, be cautious if someone pressures you to act quickly, asks for payment to receive benefits, requests passwords or sensitive information, contacts you unexpectedly, or promises guaranteed profits.

When in doubt, stop and verify the information through official sources.

For accurate information about 530A Accounts, use these government resources:

IRS Trump Accounts
https://www.irs.gov/trumpaccounts [irs.gov]

IRS Guidance on Trump Accounts
https://www.irs.gov/newsroom/treasury-irs-issue-guidance-on-trump-accounts-established-under-the-working-families-tax-cuts-notice-announces-upcoming-regulations [irs.gov]

Investor.gov Trump Accounts
https://www.investor.gov/introduction-investing/investing-basics/investment-accounts/tax-advantaged-accounts/trump-accounts [investor.gov]