Form 4547: how to open a Trump account and claim the $1,000
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Work out your own numbers with the trump accounts calculator.
Form 4547 is the IRS form that opens a Trump account for a child. The same form also claims the $1,000 pilot deposit from the Treasury for children born from 2025 to 2028. This guide covers who can file it, what each part asks for and how to send it. For the account rules themselves, see the Trump accounts guide.
Who can file Form 4547
One adult files the election for the child. The IRS lists who can file, in this order:
- the child’s legal guardian,
- a parent,
- an adult sibling,
- a grandparent.
The child must:
- be under 18 at the end of the year of the election (for a 2026 election, born after December 31, 2008),
- have a valid Social Security number issued before the election is made, and
- not already have a Trump account election on file.
Who gets the $1,000 pilot deposit
The pilot deposit is a one-time $1,000 from the Treasury. The child must:
- be born after December 31, 2024 and before January 1, 2029,
- be a US citizen with a valid Social Security number, and
- be someone the filer expects to claim as a qualifying child.
Older children can still get a Trump account. They do not get the $1,000.
What each part of the form asks
| Part | What you enter |
|---|---|
| Part I | You, the person making the election |
| Part II | The child, including the child’s SSN (line 6) |
| Part III | The pilot program election for the $1,000 (line 7) |
| Part IV | Consent and signature |
If you file on paper, sign the form by hand.
How and when to file
You can file Form 4547 in three ways:
- With your tax return. Attach it to your e-filed current-year return. The IRS recommends this route.
- On paper. Mail it on its own to the address on IRS.gov/PaperReturns for returns with no payment.
- Online. File at trumpaccounts.gov once the online election is open.
Do not attach Form 4547 to an amended return (Form 1040-X).
The IRS says Form 4547 can be filed at any time. The proposed regulations set the last date as December 31 of the year the child turns 17. To get the $1,000 sooner, file with your next return.
What happens after you file
- From May 2026, the Treasury sends details on how to activate the account.
- You must confirm your identity before you can use the account.
- No contributions and no pilot deposit go in before July 4, 2026.
- The account grows until January 1 of the year the child turns 18.
Use the Trump account calculator to see what the $1,000 and your own contributions could grow to.
Common questions
Is there a deadline for Form 4547?
The IRS says you can file at any time. The proposed rules end the election on December 31 of the year the child turns 17. Filing early gets the account and any $1,000 deposit set up sooner.
Can I file Form 4547 without a tax return?
Yes. You can mail it on its own or file online at trumpaccounts.gov when that is open. The IRS recommends sending it with your e-filed return.
Can both parents file for the same child?
No. Only one election is allowed per child. The IRS order of priority is legal guardian, parent, adult sibling, then grandparent.
My child was born in 2024. Do they get the $1,000?
No. The pilot deposit is only for children born from January 1, 2025 to December 31, 2028. A child born in 2024 can still have a Trump account.
Can I add Form 4547 to an amended return?
No. The IRS says not to attach Form 4547 to Form 1040-X. File it with your current return, on paper on its own, or online.
Updated: November 1, 2026. Based on the IRS Instructions for Form 4547 and 26 U.S. Code § 530A. Check IRS.gov before you file, as the IRS can update the form.