IRS CEO Frank Bisignano has donated to Trump Accounts for certain kids in Brooklyn, the agency announced Thursday.
The Bisignano Family Fund donated $250 apiece to Trump Accounts of eligible children ages 2 to 8 living in 11234, Bisignano's hometown ZIP code, according to the release.
"My life was shaped by the people, schools, and neighborhoods in Marine Park, Mill Basin, Bergen Beach, and Flatlands," Bisignano said in a statement. "This donation is an investment in the children of Brooklyn, giving them a boost in their personal wealth building journeys."
Within that ZIP code, fewer than 10,000 U.S. citizens are under 10 years of age, according to CNBC's analysis of the most recent population estimate from the U.S. Census Bureau.
The contribution will be invested in a diversified index fund , the release also said.
Expanding access to Trump Accounts has been a Trump administration priority. In July, Bisignano was tasked with leading that effort .
The latest Trump Account news comes weeks after the Treasury Department auto-enrolled more than 60 million children .
Trump Accounts, also known as 530A accounts , are open to any U.S. citizen under 18 with a Social Security number. Children born from 2025 through 2028 may also claim a one-time $ 1,000 pilot program contribution from the Treasury.
Families must still activate their child's Trump Account to receive contributions if eligible, according to Treasury guidance.
Bisignano's commitment comes on the heels of news that Elon Musk plans to give every kid in America a share of SpaceX in 2027.
Altimeter Capital CEO Brad Gerstner, founder of Invest America and an architect of Trump Accounts, described Musk's gift as " the tip of the iceberg " for philanthropic gifts on CNBC's "Squawk Box" Oct. 21. Gerstner has committed about $35 million to help fund investment accounts for kids in his home state of Indiana.
More gifts are in the pipeline, Bisignano told CNBC's " Squawk Box " on Oct. 8. "They range from small to mega," he said.
After claiming an account, families can track deposits in the Trump Accounts app , which was designed in partnership with Robinhood .
"Trump Accounts is direct philanthropy, extremely efficient, direct to children...," Robinhood CEO Vlad Tenev said on CNBC's "Squawk on the Street" on Oct. 28.
"Excited to see Elon donation," he said. "I think there will be many others as well."
The Treasury Department in September released temporary regulations allowing Trump Accounts to hold donated individual stocks, a shift from previous guidelines that permitted only diversified, low-cost index funds . The Trump administration said the move could pave the way for more multimillion-dollar donations, with a number of philanthropists poised to participate.
The latest donation comes just days before the midterm election , and Republicans fight to keep slim congressional majorities in the Senate and House.
