Trump accounts are now active, Robinhood as Trustee and BNY as custodian. Are there plans to establish connectivity for Quicken users?
Hello @mrl232,
Thanks for reaching out!
At this time, we do not have any known plans or updates regarding whether connectivity support for Trump accounts will be added to Quicken.
For a financial institution to support downloads to Quicken and be added to our financial institution list (or have support added for a specific account type that is not currently supported), the request to enable Quicken connectivity would need to be made and submitted by the financial institution to our service providers.
If you would like to see Quicken support added, we recommend contacting the financial institution that services the Trump accounts directly and letting them know you would like the ability to download your accounts into Quicken. Customer feedback can help financial institutions understand the demand for this type of support.
Thank you!
Restating the comment by @Quicken Anja … it's the particular financial institution that holds the account(s), NOT Q, that determines what account types are eligible for download.
Ask your FI this question.
Since I have been ignoring such accounts (we have no kids), I thought I would look up how these work.
As far as I can tell, they could be treated the same as a traditional IRA account in Quicken with the only exception being that the Lifetime Planner might not do the penalties right. But as far as the financial institution was concerned for downloading traditional IRA works, Quicken/download process shouldn't have to change.
Some of the key points.
OK, thanks everyone for the responses. I was hoping, given this is a unique, once in a generation government-directed program, that Quicken would be more proactive. This isn't some new XYZ bank starting up where I got an account. Tens of millions of kids are eligible here. But I'll be sure to "check with my FI"!!!!!!!!!!
In general, Quicken Inc isn't "proactive" on such things, but has been mentioned above, it isn't Quicken Inc that needs to change this with maybe looking what it might do in the Lifetime Planner. It is the financial institutions that have to decide to send the account data.
I don't see anything in this that suggests that Quicken's existing IRA accounts can't be used, so no real changes are needed from Quicken's standpoint.
