The Treasury Department confirmed Tuesday plans to automatically enroll millions of more children into Trump accounts under new rules, thereby eliminating the need for parents to sign up for the investment program.

Trump accounts are investment accounts funded by the department for Americans born during President Donald Trump's term. But private contributions have swelled, with billionaires like Dell CEO Michael Dell, making major contributions to help fund additional accounts.

Treasury guidance released Tuesday said the auto enrollment will create accounts for more than 60 million additional children under the age of 18, which is intended to provide more access to the child investment accounts and allow contributions, including Dell’s pledge of $6.25 billion, to reach more eligible households, according to The Hill.

Parents under the new rules will need to request the $1,000 investment from the Trump administration and claim their child’s account before they can make their own deposits or receive contributions from an employer, the department said.

The funds are intended to give children a hand up and will be made available to the account owner when they turn 18. It will then act as a traditional individual retirement account.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.