Study notes · Form 4547 · Based on the IRS instructions (Rev. December 2025)

Form 4547: Trump Account Elections

Summary Form 4547 is used to open an initial Trump account for an eligible child, and optionally to request the $1,000 pilot program contribution from the U.S. Treasury for an eligible child.

1. What the form does

Account election: Opens an initial Trump account, which the IRS instructions describe as a type of traditional IRA owned by the child.
Pilot contribution election: Requests a $1,000 pilot program contribution from the Treasury into the child's account, if the child qualifies.

2. Who may file

Election	Who may file
Account only	A legal guardian, parent, adult sibling or grandparent, in that order of priority. If several qualify, any of them may file, unless an election was already made for the child.
Account plus pilot contribution	An individual who expects the child to be their qualifying child for the election year. The filer does not have to have claimed the child on the 2025 return if filing with it.

By filing, the person represents under penalties of perjury that they are authorized to do so.

3. Child eligibility

For the account

Under age 18 at the end of the election year. For 2026 elections, this means born after December 31, 2008.
Has a valid Social Security number issued before the election is made.
No prior Trump account election has been filed for the child.

For the $1,000 pilot contribution

Expected to be the filer's qualifying child for the election year.
Born after December 31, 2024, and before January 1, 2029.
U.S. citizen with a valid Social Security number.
No prior pilot contribution election has been processed.

Exam trap Line 7 of the form is checked only for the pilot contribution. If the child is not eligible for the pilot contribution, the account election can still be filed, but line 7 stays unchecked.

4. How the $1,000 pilot contribution works

The Treasury makes the deposit after the election is made and the trustee confirms the account is open.
Under the instructions, the deposit is not made before July 4, 2026.

5. Filing options and timing

Timing: The instructions say the form can be filed at any time. No specific filing deadline is stated beyond that.
Easiest route: File it with your current-year return, which can be e-filed.
Online: The instructions point to trumpaccounts.gov for online options, which were expected in mid-2026, and for qualifying events that occur after filing.
Paper: Mail it to the address listed on IRS.gov for the election year's return, using the address for filers requesting refunds or not enclosing a payment.
Amended returns: Do not attach Form 4547 to Form 1040-X or to an amended Form 1040, 1040-SR or 1040-NR.

6. Signatures and representatives

Paper forms require a handwritten signature.
If a representative signs, a power of attorney, such as Form 2848, must be attached.

Review questions 1. Who has the first priority to file an account-only election for a child?
2. A child was born in March 2025 and has an SSN, but is not a U.S. citizen. Can line 7 be checked?
3. Why should a filer not attach Form 4547 to an amended return?
Answers: (1) a legal guardian or parent. (2) No. The pilot contribution requires U.S. citizenship. The account election can still be filed. (3) The instructions say not to attach it to Form 1040-X or an amended Form 1040, 1040-SR or 1040-NR.

Sources

These notes summarize IRS instructions and may not cover every case. Eligibility, timing and online options can change. Check the current form, its instructions and trumpaccounts.gov before filing. This is general educational material, not tax advice.