Opening a Trump Account for Your Child: A Practical Guide to IRS Form 4547
A new savings option is now available for families looking to build long-term financial security for their children. Known as a Trump Account, this government-backed account allows parents to start saving early—with some families qualifying for a one-time $1,000 federal contribution.
To open this account, parents or guardians must complete IRS Form 4547. This article breaks down what the form does, who can file it, eligibility requirements, and important filing timelines—all in plain language.
What Is IRS Form 4547?
Form 4547 is the official IRS form used to establish a Trump Account for a minor. It serves two primary purposes:
- It authorizes the creation of a Trump Account for an eligible child
- It allows qualifying families to request the federal government’s $1,000 pilot contribution
The form can be filed electronically with your tax return or submitted separately by mail. Without filing Form 4547—or registering later through the government’s online portal—you cannot open a Trump Account.
Who Is Allowed to File Form 4547?
Only certain individuals are permitted to open a Trump Account on behalf of a child. These are referred to as authorized individuals.
- A legal guardian has first priority, if one exists
- If no guardian exists, a parent may file
- In limited cases, a grandparent or adult sibling may file
If you are applying for the $1,000 federal contribution, you must also be planning to claim the child as your dependent on your tax return for that year. By signing the form, you are legally confirming that you have the authority to open the account.
Child Eligibility Requirements
A Trump Account can be opened for a child if all of the following conditions are met:
- The child is under 18 years old at the end of the year the form is filed
- The child has a valid Social Security number issued for employment purposes
- The child does not already have an existing Trump Account
Each child is limited to one account only.
Who Qualifies for the $1,000 Federal Contribution?
Not every child qualifies for the federal seed money. To receive the $1,000 pilot contribution, the 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 the filer and be claimed as a dependent
- Not have previously received a pilot contribution
Children born outside this window may still have an account opened but will not receive the government contribution.
How Form 4547 Is Structured
Form 4547 is divided into four sections, each serving a specific purpose:
Part I – Authorized Individual Information
This section captures the parent or guardian’s identifying details. The individual listed here becomes the temporary manager of the account while the child is a minor.
Part II – Child Information
This section records the child’s name, Social Security number, relationship to the filer, and address. This is also where you formally elect to open the account.
Part III – Federal Contribution Election
Eligible filers must actively select the option requesting the $1,000 federal contribution. If this step is missed, the contribution will not be issued—even if the child otherwise qualifies.
Part IV – Signature and Consent
The filer must sign to authorize account creation and allow limited disclosure to other eligible parties, such as the child’s other parent.
When Should Form 4547 Be Filed?
Form 4547 can technically be filed at any time, but the IRS strongly recommends submitting it alongside your 2025 tax return.
Key Dates to Remember:
- January 2026: Tax filing season opens
- April 15, 2026: Standard tax filing deadline
- May 2026: Account activation instructions begin rolling out
- Mid-2026: Government online portal expected to launch
- July 4, 2026: Contributions, including the $1,000 pilot deposits, begin
Filing early helps ensure your child’s account is active when funding becomes available.
How to Submit Form 4547
There are two ways to file:
- Electronic filing (recommended): Submit Form 4547 with your federal tax return using supported tax software
- Paper filing: Mail the form to the appropriate IRS address listed on IRS.gov
Form 4547 should not be attached to an amended tax return (Form 1040-X). If changes are needed after filing, the form must be submitted separately or completed through the online portal once available.
What Happens After You File?
Once the IRS processes Form 4547, the Treasury Department (or its appointed administrator) will contact you with instructions to activate the account. Identity verification will be required before the account becomes fully operational.
No funds—government or otherwise—will be deposited before July 4, 2026.
Ongoing Contributions After the Account Is Opened
The federal $1,000 deposit is only the starting point. Trump Accounts may receive additional funding from multiple sources:
- Family members can contribute up to $5,000 per year
- Employers may contribute up to $2,500 annually as a tax-free employee benefit
- Charitable organizations and government entities may contribute without annual limits
Employer contributions, in particular, could significantly increase the account’s value over time.
Trump Accounts and Other Savings Options
Trump Accounts are designed to work alongside existing savings tools, not replace them. Many families may choose to maintain both a Trump Account and a 529 plan—using each for different long-term goals.
The Trump Account provides flexibility and a federal head start, while 529 plans offer strong tax advantages for education-related expenses.
Where to Find IRS Form 4547 & Learn More About Trump Accounts
If you’d like to review IRS Form 4547 in advance or prepare before filing, the IRS has made the official form available online. You can view and download the form directly from the IRS website using the link below:
👉 https://www.irs.gov/pub/irs-pdf/f4547.pdf
Reviewing the form ahead of time can help you confirm that all information—such as names, Social Security numbers, and required elections—is completed correctly, including the selection for the $1,000 federal pilot contribution.
For additional background information, updates, and official explanations about Trump Accounts and how Form 4547 works, the IRS also provides a dedicated information page:
👉 https://www.irs.gov/forms-pubs/about-form-4547
This resource is helpful if you want a deeper understanding of eligibility rules, filing options, and how the account operates after it is established.
Final Thoughts
IRS Form 4547 is the required first step in opening a Trump Account for your child. Filing it correctly—and on time—ensures access to the account and, for qualifying families, the $1,000 federal pilot contribution.
Accuracy matters. Ensure all names and Social Security numbers match official records to avoid delays. When used strategically, Trump Accounts can become a valuable part of a broader family savings and planning strategy.
