How to Open a Trump Account: Form 4547 Step by Step

This guide explains how to open a Trump account for your child in late 2026, when the process changed. On October 1, 2026, the Treasury Department automatically opened accounts for eligible children, so for most families opening a Trump account now means claiming the account that already exists and, for babies born 2025 to 2028, filing IRS Form 4547 to request the $1,000 federal deposit. Below are the steps, the documents you need and a decision checklist. For program basics, see our Trump accounts explained hub.

Key takeaways

• Treasury auto-enrolled eligible children on October 1, 2026, but a parent must claim the account to manage it.
• Form 4547 is still needed to elect the $1,000 pilot deposit for U.S. citizen children born 2025 to 2028.
• Form 4547 can be filed in the Trump Accounts app or website, in the IRS Individual Online Account, with a tax return, or on paper.
• Contributions have been allowed since July 4, 2026, up to $5,000 a year from family and employers.

The IRS has issued temporary and proposed regulations, not final ones. Procedures can change, so confirm each step on IRS.gov and trumpaccounts.gov.

Latest update: where Trump accounts stand in October 2026

The sign-up process has changed twice this year. The newest verified developments:

• July 4, 2026: contributions opened and Treasury began depositing the $1,000 pilot contributions, according to Treasury’s May 28 and July 4, 2026 releases. Treasury has not published a count of deposits made so far in the releases we reviewed.
• October 1, 2026: Treasury completed automatic enrollment, saying over 60 million more eligible children now have an account ready to be claimed. A parent must still claim the account, and the $1,000 still requires a Form 4547 election.
• Regulations: proposed rules came on March 6, 2026 (IR-2026-33), and temporary regulations (T.D. 10056, effective September 30, 2026) cover auto-enrolled accounts. Final regulations have not been issued.
• Portal: the Trump Accounts app launched May 28, 2026, and Form 4547 can also be filed in the IRS Individual Online Account (IR-2026-68).
• Dell gift: Invest America says all $250 Dell deposits were made as of October 9, 2026.
• Employers: Treasury issued employer guidance on August 11, 2026 and said more than 50 companies had committed to contributions.

How to open a Trump account in 2026: the short version

Here is how to open a Trump account or claim one, according to the IRS Trump Accounts FAQ and Treasury’s October 1, 2026 announcement:

1. Check whether your child already has an account. Treasury says every eligible child under 18 with a valid Social Security number now has one. The Trump Accounts app or website shows whether an account exists.
2. Claim and activate it. Download the official Trump Accounts app from the Apple App Store or Google Play, or use the Trump Accounts website. Verify your identity and your relationship to the child, review the child’s details and accept the account terms.
3. Elect the $1,000 if your child qualifies. File Form 4547 and check the pilot program box (line 7). Automatic enrollment does not include this election.
4. Add contributions if you wish, up to $5,000 a year in total from family and employers.

What is Form 4547?

Form 4547, “Trump Account Election(s),” is the official IRS form used to elect to open an initial Trump account for a child and to elect the $1,000 pilot program contribution from Treasury. The IRS FAQ confirms it is a legitimate IRS form. The instructions (Rev. December 2025) say it can be filed at any time. Since automatic enrollment, its main use is the $1,000 election, and it remains the route to open an account for a child who was not auto-enrolled, for example because the Social Security number was issued after October 1, 2026.

How to sign up for a Trump account: Form 4547 step by step

Step 1: Confirm who can sign

The person filing is the “authorized individual.” If you are only opening an account, the Form 4547 instructions list a legal guardian, parent, adult sibling or grandparent, in that order of priority. If you are also electing the $1,000, the authorized individual is the person who expects the child to be their qualifying child for that tax year. On the 2025 return you did not need to have claimed the child as a dependent.

Step 2: Check the child’s eligibility

• For an account: the child is under 18 at the end of the election year (for 2026, born after December 31, 2008), has a valid Social Security number issued before the election, and has no earlier Trump account election.
• For the $1,000 pilot deposit: the child also must be a U.S. citizen, born after December 31, 2024 and before January 1, 2029, with no earlier pilot election processed.

Step 3: Fill in the form

• Part I: your name, address and Social Security number (or ITIN if you are not eligible for an SSN).
• Part II: the child’s name, SSN, date of birth, relationship and address; check line 6 if you are authorized to open the account. Use extra copies for more than two children.
• Part III: check line 7 to request the $1,000 pilot contribution.
• Part IV: consent to disclosure, then sign and date. Paper forms need a handwritten signature.

Step 4: Choose where to file

Do not attach Form 4547 to Form 1040-X or amend a return to add it. If the IRS sends Notice CP318, follow that notice to resubmit, and make sure names, SSNs and birth dates match Social Security records.

Step 5: Activate and manage the account

After the election, Treasury or its agent sends instructions to activate the account, which requires identity verification. The person who activates it becomes the “responsible party” while the child is a minor, with the power to choose among eligible investments and name a successor. According to the IRS FAQ, BNY is Treasury’s financial agent and Robinhood Securities is the brokerage provider and initial trustee. The help line is 866-USA-4547 (866-872-4547).

How to set up a Trump account for my child: documents needed

• Your Social Security number (or ITIN) and a government ID for identity verification.
• Your child’s Social Security card, with the name exactly as the SSA has it.
• Your child’s date of birth and proof of U.S. citizenship status if you want the $1,000 (the form asks you to attest to it).
• A smartphone for the app, or a computer for the website or IRS Online Account.
• Bank account details if you plan to contribute.

Most delays come from mismatches. The IRS says names, Social Security numbers and dates of birth must match Social Security Administration records.

Trump account sign up timeline: key dates

How to open a Trump account for kids born before 2025

For older children the steps are the same minus the $1,000. If your child was born in 2009 or later, is under 18 and has an SSN, Treasury’s auto-enrollment should already have created an account. Claim it in the app so relatives and employers can contribute. Some older children also received a $250 philanthropic deposit from Michael and Susan Dell; see our guide to the Trump account $250 and employer contributions.

Worked example: what claiming early can mean

Assume a 7% average yearly return, which is an illustration and not a forecast.

• Baby born in 2026: the $1,000 pilot deposit plus $100 a month ($1,200 a year) for about 18 years means $22,600 of money in, growing to roughly $44,179 by the end of the growth period.
• Child born in 2018 with the Dell $250: the $250 plus $50 a month ($600 a year) for nine years means $5,650 in, growing to roughly $7,646. The $250 alone would grow to about $460.

Try your own numbers in the Trump account calculator or the compound interest calculator.

Should I open a Trump account for my child?

Because the account already exists for most eligible children, the real question is whether to claim it and whether to add money. Claiming costs nothing; Treasury says there is no cost to open an account. Here is a neutral checklist:

Reasons to claim and contribute

• Your child was born 2025 to 2028 and can receive the $1,000 federal deposit.
• Your employer offers tax-free Trump account contributions.
• Grandparents or relatives want a simple place to give long-term money.
• You want low-cost index investing; eligible funds must charge 0.1% a year or less.

Reasons to hold back on extra contributions

• You lack an emergency fund or carry high-interest debt.
• You are saving mainly for college; a 529 plan has tax-free education withdrawals. Compare them in Trump account vs 529.
• You may need the money before the child turns 18; it is generally locked until then.
• You want bonds or other diversification; the account holds only U.S. stock index funds during the growth period.

Family contributions are not tax deductible, but they create basis, so that part comes back tax-free when withdrawn. Earnings are taxed under IRA rules after the growth period. To plan a target amount, use the savings goal calculator, and see the fund type in our index fund investing guide.

Avoiding Trump account scams

Treasury says it will never ask for passwords or verification codes by email, text or phone. Its May 2026 release said initial activation emails come only from no-reply@TrumpAccounts.Treasury.gov, with later messages through the app or from addresses ending in @trumpaccount.com. No one can charge a fee to “unlock” the $1,000. Use only the official app, trumpaccounts.gov and IRS.gov.

Related guides

• Trump accounts explained: who qualifies, limits and how to open one
• Trump account vs 529: which is better for your child?
• Trump account $250: Dell gift and employer contributions
• Index fund investing for beginners

Sources

IRS Instructions for Form 4547; IRS Trump Accounts FAQ; IR-2026-33; IR-2026-68; T.D. 10056 (IRB 2026-44); Treasury releases of May 28, 2026, July 4, 2026 and October 1, 2026; trumpaccounts.gov.

This guide is educational and not personal tax or financial advice.

Frequently asked questions