“Your child may qualify for a new Trump Account. If eligible, the government may deposit $1,000 one time into that account. To request it, we would use IRS Form 4547. Eligibility is generally based on the child’s birth year, citizenship, Social Security number, and whether the child is your qualifying child.”
A Trump Account is a new tax-favored account for a child. The pilot program allows the U.S. Treasury to make a one-time $1,000 contribution to the account for an eligible child if the proper election is made. The election is made on Form 4547.
To qualify for the $1,000 pilot contribution, the child generally must:
• be born after December 31, 2024, and before January 1, 2029,
• be a U.S. citizen,
• have a valid Social Security number, and
• be a qualifying child of the authorized individual making the election for that year.
The IRS says Form 4547 is used both to open the initial Trump Account and to request the one-time $1,000 pilot program contribution. The form can generally be filed with the authorized individual’s tax return, and IRS materials also reference online filing options beginning in mid-2026.
IRS guidance also states the pilot-program contribution will be deposited no earlier than July 4, 2026, and then as soon as practicable after the election is made and Treasury confirms the account has been opened.
“Your child may qualify for a new Trump Account. If eligible, the government may deposit $1,000 one time into that account. To request it, we would use IRS Form 4547. Eligibility is generally based on the child’s birth year, citizenship, Social Security number, and whether the child is your qualifying child.”
