Zero access. For the entire time a child is a minor, a Trump Account is completely locked. No hardship withdrawals, no loans against it, no early distributions of any kind. The money compounds undisturbed until the calendar year the child turns 17 ends.
This lock is stricter than a 529 plan (which allows education withdrawals) and stricter than a Custodial Roth IRA (which allows contribution withdrawals any time). Congress designed it this way deliberately: the point is to force compounding for a full 17-18 years without interruption.
What happens when the lock expires
On January 1 of the year the child turns 18, the account automatically converts to a Traditional IRA in the child's name. From that moment, standard IRA rules apply. The child can withdraw (with taxes and possibly the 10% early withdrawal penalty if under 59.5), roll it over, or just leave it to keep compounding.
The conversion is automatic. No paperwork, no election needed. The custodial institution handles the reclassification. The child becomes the sole owner.
The emergency scenario people ask about
What if the family has a genuine financial crisis while the child is 12? The answer is nothing. The funds cannot be accessed. This is by design, but it means a Trump Account should never be your only savings vehicle. Keep separate emergency funds and liquid accounts for life's surprises.
