The Trump administration plans to offer a $1,000 "Trump account" for children born between 2025 and 2028, intended to help families save for future expenses. Contributions from parents, relatives, and employers are permitted up to certain limits. However, experts caution that contributors must file a gift tax Form 709 for each contribution, as these are considered future interest gifts. The complexity and potential cost of filing this form may outweigh the benefit for some, with alternative savings vehicles like Roth IRAs or 529 plans suggested as potentially more advantageous.