Amata Highlights Facts About ‘Trump Accounts’ for American Samoa’s Children

Pago Pago - Congresswoman Uifa'atali Amata is highlighting the upcoming possibility for American Samoa's children to begin a new investment growth account, known as Trump accounts, funded by the child's guardian.

"The federal law creating Trump account investments does not prevent U.S. nationals from participating, so I want our people to be informed to make their own decisions," said Congresswoman Aumua Amata. "The children of our islands who are U.S. nationals can be included, and must have their U.S. Social Security number to participate along with U.S. citizens."

"I know that every hard-earned dollar is precious to our families, and needed in your current household budget, but starting an early investment even with a small amount has potential to build up in the future for a child with a full lifetime of growth earnings ahead of them, so this is information for your consideration, prayer, and counsel," continued Aumua Amata.

What to know:

These accounts do not apply to residents of American Samoa who are not U.S. nationals or citizens.

Trump Accounts are traditional Individual Retirement Accounts (IRAs) for minors under age 18, managed by an adult guardian to build growth for them through U.S. stock market investments. While owned by the child, they are administered by a parent or legal guardian as custodian until the owner turns 18. Only the adult can start the account, using the official app from Trump Accounts (Trumpaccounts.gov) or via the IRS using Form 4547.

An account holder may contribute up to $5,000 per year in regular individual contributions per child. At their choice, employers may contribute up to $2,500 tax-free annually.

Note that your individual contributions are made with after-tax dollars (non-deductible), but the earnings then grow tax-deferred. The investments are placed in low-cost mutual funds or ETFs tracking major U.S. equity indexes like the S&P 500.

In general, no withdrawals are permitted while the beneficiary is a minor. Full control transfers to the individual at age 18. The account converts fully to a standard traditional IRA, with standard retirement or qualified penalty-free distribution rules.

Congress and President Trump created these accounts through Public Law 119-21, signed into law in 2025, which was designated the One Big Beautiful Bill Act, also called the Working Families Tax Cuts.

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