IRS Chief Bisignano Announces $250 Donations to Children’s Accounts in His Brooklyn Hometown

IRS Commissioner Frank Bisignano testified before the House Ways and Means Subcommittee on Social Security in Washington on June 10, 2026.

Tierney L. Cross | Bloomberg | Getty Images

The IRS announced Thursday that Commissioner Frank Bisignano has donated to Trump Accounts for eligible children in Brooklyn.

The Bisignano Family Fund donated $250 apiece to Trump Accounts for eligible children ages 2 to 8 residing in ZIP code 11234, Bisignano’s hometown, according to the agency’s 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.”

CNBC’s analysis of the latest U.S. Census Bureau population estimate indicates fewer than 10,000 U.S. citizens under the age of 10 reside in that ZIP code.

The contribution will be invested in a diversified index fund, as stated in the release.

Expanding access to Trump Accounts has been a Trump administration priority, and in July, Bisignano was tasked with leading the initiative.

This news follows the Treasury Department’s auto-enrollment of more than 60 million children weeks earlier.

Trump Accounts, also referred to as 530A accounts, are available to any U.S. citizen under 18 with a Social Security number. Additionally, children born between 2025 and 2028 may 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, per Treasury guidance.

‘The tip of the iceberg’

Bisignano’s announcement follows news that Elon Musk plans to distribute shares of SpaceX to every child in America by 2027.

Altimeter Capital CEO and Invest America founder Brad Gerstner, a key architect of Trump Accounts, described Musk’s gift as “the tip of the iceberg” for philanthropic giving on CNBC’s “Squawk Box” on Oct. 21. Gerstner has committed approximately $35 million to support investment accounts for children in Indiana.

Additional gifts are forthcoming, Bisignano told CNBC’s “Squawk Box” on Oct. 8, noting they “range from small to mega.”

Once an account is claimed, families can track deposits via the Trump Accounts app, developed in partnership with Robinhood.

“Trump Accounts is direct philanthropy, extremely efficient, and direct to children…,” Robinhood CEO Vlad Tenev said on CNBC’s “Squawk on the Street” on Oct. 28.

“Excited to see the Elon donation,” he said. “I think many others will follow.”

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 timing of the donation arrives just days before the midterm election, as Republicans seek to maintain their slim majorities in the Senate and House.

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