Bisignano gives $250 Trump account deposits to children in Brooklyn

Donation in Brooklyn

Accounting Today reports that Internal Revenue Service CEO Frank Bisignano is making Trump account donations for children living in Old Mill Basin, the Brooklyn neighborhood where he grew up. The article says the gifts are being made through the Bisignano Family Fund and apply to children in ZIP code 11234.

Amount and eligibility described by the report

According to the article, the fund is providing $250 to the Trump account of every child ages two through eight in that ZIP code. The source says the donation takes effect today. It does not say how many children will receive the money.

What Trump accounts are

Accounting Today says Trump accounts are tax-advantaged investment accounts for American children under age 18. The article says Congress created them in the One Big Beautiful Bill Act passed last year.

Bisignano’s statement

In a statement quoted by the report, Bisignano said Brooklyn is home for him and said his life was shaped by people, schools, and neighborhoods in Marine Park, Mill Basin, Bergen Beach, and Flatlands. He said the donation is intended as an investment in children’s efforts to build personal wealth.

The article also says Bisignano is commissioner of the Social Security Administration and executive-in-charge of Trump accounts. In another statement quoted by Accounting Today, he called Trump accounts “transformational savings vehicles” and said they would give future generations a financial foundation. He also said President Donald Trump created opportunities for America’s children through the accounts.

Account management noted by the source

The report says a parent or guardian has to claim a child’s automatically enrolled account in order to manage it. It adds that once claimed, the account can receive contributions from family members, friends, and employers.