How to Open a Trump Account with IRS Form 4547

Trump Accounts are a new type of tax-advantaged retirement account for children under 18, created under the One Big Beautiful Bill Act (OBBBA) in July 2025. If you want to open one for your child and claim the one-time $1,000 federal contribution, you’ll need to file IRS Form 4547.

This guide walks you through each section of Form 4547, explains who can file it, who is eligible for the $1,000 seed contribution, and covers the key deadlines you need to know.

What is Form 4547?

Form 4547, officially titled “Trump Account Election(s),” is the IRS form parents and guardians use to make two elections:

1. Open an initial Trump Account for an eligible child
2. Request the $1,000 pilot program contribution from the U.S. Treasury (for children born 2025–2028)

You cannot open a Trump Account without filing Form 4547 or registering through the upcoming online portal at trumpaccounts.gov. The form is free to file and can be submitted electronically with your tax return or mailed separately.

Who can file Form 4547?

Only an “authorized individual” can file Form 4547 on behalf of a child. The IRS defines authorized individuals differently depending on which election you’re making.

If only opening an account (no pilot contribution)

An authorized individual is a legal guardian, parent, adult sibling, or grandparent of the child, in that order of priority. If the child has a legal guardian, only the guardian can file. If no guardian exists, either parent can file regardless of filing status.

If claiming the $1,000 pilot contribution

To claim the $1,000 federal contribution, you need to be claiming the child as your qualifying child on your taxes for the year you file. For most parents, this is straightforward — if your child lives with you and you’re claiming them as a dependent, you qualify. You don’t need to have already filed your 2025 return; you just need to plan to claim the child.

By signing Form 4547, you’re certifying under penalties of perjury that you’re authorized to open the account.

Is my child eligible for a Trump Account?

A child can have a Trump Account opened for them if they meet all three requirements:

• Under age 18: The child must be under 18 at the end of the calendar year in which you file. For 2026 filings, this means children born after December 31, 2008.
• Valid Social Security number: The child must have an SSN issued before you file the form. The SSN must be valid for employment. If the card says “Not Valid for Employment,” check whether the child’s immigration status has changed and request an updated card from the SSA.
• No prior Trump Account: Each child can have only one Trump Account.

Who qualifies for the $1,000 pilot contribution?

The federal government will contribute $1,000 to each qualifying child’s Trump Account. To receive this pilot contribution, your child must:

• Be born between January 1, 2025, and December 31, 2028
• Be a U.S. citizen
• Have a valid Social Security number
• Live with you and be claimed as your dependent
• Not have received a prior pilot contribution

Children born outside the 2025–2028 window can still have Trump Accounts opened — they just won’t receive the $1,000 federal seed money.

How to fill out Form 4547 step by step

Form 4547 has four parts. Here’s what you need to provide in each section.

Part I: Your information (parent/guardian)

Enter your personal information as the authorized individual:

• Name: Use the name exactly as it appears on your Social Security card. If you’ve recently changed your name due to marriage or divorce, update it with the SSA first.
• Address: Your current mailing address, including county. Use your P.O. box only if the post office doesn’t deliver to your street address.
• Social Security number: Your SSN (or ITIN if you’re a nonresident alien without an SSN).

The person listed in Part I becomes the “responsible party” for the Trump Account while the child is a minor. This means you can select investments, request rollovers, and designate a successor if needed.

Part II: Child’s information

Provide details for each child receiving a Trump Account:

• Name and SSN: Must match the child’s Social Security card exactly.
• Relationship: How the child is related to you (son, daughter, grandchild, ward, etc.).
• Address: Check the box if the child lives at your address. Otherwise, enter their separate address.
• Line 6 checkbox: Check this box to authorize opening the initial Trump Account.

If you have more than two children, attach additional copies of Form 4547 for each additional child.

Part III: Pilot program contribution election

For each child who qualifies for the $1,000 federal contribution (born 2025–2028, U.S. citizen, valid SSN), check the box on Line 7. This checkbox triggers the pilot contribution. If you don’t check it, your child won’t receive the $1,000 even if they’re eligible. If your child doesn’t qualify for the pilot contribution, leave Line 7 blank but still complete the other sections to open the account.

Part IV: Consent and signature

By signing Part IV, you:

• Authorize the IRS and Treasury to create and maintain the Trump Account
• Consent to disclosure that an account has been established to other eligible individuals (such as the child’s other parent)

For paper filings, you must sign by hand. Typed or digital signatures are not accepted. For electronic filings, follow the instructions from your tax software or preparer.

When to file Form 4547

You can file Form 4547 at any time, but the IRS recommends filing it with your 2025 tax return. This ensures your child’s account is set up and ready when contributions begin on July 4, 2026.

If you miss the tax filing window or have a child born after you’ve already filed, you can register directly through trumpaccounts.gov once that portal launches.

Where to file Form 4547

You have two options for submitting Form 4547:

Electronic filing (recommended)

The easiest method is to e-file Form 4547 with your federal tax return. Most tax software packages will include Form 4547 as an option during the 2025 tax year filing process.

Paper filing

If you must file on paper, mail Form 4547 to the appropriate IRS address listed at IRS.gov/PaperReturns. Use the address for taxpayers requesting a refund or not enclosing payment.

Important: Do not attach Form 4547 to Form 1040-X (amended return). If you need to make an election after filing your original return, file Form 4547 separately or use the online portal.

What happens after you file Form 4547?

After the IRS processes your Form 4547, the Treasury Department (or its agent) will contact you with instructions to activate your child’s account. This activation process will require identity verification.

Expect to receive activation instructions starting in May 2026. No contributions, including the $1,000 pilot contribution, will be deposited before July 4, 2026.

Additional contributions beyond the $1,000 seed

The $1,000 government deposit is just the starting point. Trump Accounts can receive contributions from multiple sources:

• Family contributions: Parents, grandparents, and anyone else can contribute up to $5,000 per year (indexed for inflation after 2027).
• Employer contributions: Your employer can contribute up to $2,500 per year through a Section 125 cafeteria plan, excluded from your taxable income. Major employers like BlackRock and BNY Mellon have already announced Trump Account benefits.
• Philanthropic contributions: Charities and government entities can make unlimited “general funding contributions” that don’t count against the $5,000 family limit. For example, Michael and Susan Dell pledged $6.25 billion to provide $250 to 25 million children.

Ask your employer whether they plan to offer Trump Account contributions as an employee benefit. This could significantly boost your child’s account.

Trump Account vs. 529 plan: Which is right for your family?

Trump Accounts complement existing savings options, such as 529 college savings plans, rather than replacing them. For a detailed breakdown, see our Trump Account vs. 529 comparison. Here’s a quick overview:

For most families, opening both a Trump Account and a 529 plan makes sense. The Trump Account provides a federal jumpstart and flexibility, while 529 plans offer superior tax treatment for education-specific savings.

The Bottom Line

Form 4547 is your gateway to opening a Trump Account for your child. File it with your 2025 tax return, due April 15, 2026, to ensure your child’s account is ready when contributions begin in July 2026. If your child was born between 2025 and 2028, don’t forget to check the box for the $1,000 pilot contribution.

While the process is straightforward, make sure your child’s name and Social Security number match their Social Security card exactly, as mismatches can delay processing. And remember: Trump Accounts work best alongside existing savings tools like 529 plans, not as a replacement. Check with your employer about potential Trump Account benefits that could add thousands more to your child’s starting balance.

Frequently Asked Questions