Instructions for Form 4547

Instructions for Form 4547

(Rev. December 2025)

Trump Account Election(s)

Section references are to the Internal Revenue Code

unless otherwise noted.

Future Developments

For the latest information about developments related to

Form 4547 and its instructions, such as legislation

enacted after they were published, go to IRS.gov/

Form4547.

Purpose of Form

Use Form 4547 to make the election to establish an initial

Trump account for the exclusive benefit of a child who is

eligible for a Trump account. Also, use Form 4547 to make

an election for a $1,000 pilot program contribution from

the U.S. Treasury to a child’s Trump account if they are

eligible for the contribution. For more information,

including whether you can make these elections online

beginning in the middle of 2026, go to trumpaccounts.gov.

General Instructions

What Is a Trump Account?

A Trump account is a type of traditional individual

retirement account (IRA) established by an authorized

individual for the exclusive benefit of a child listed in Form

4547, Part II. The child listed in Form 4547, Part II, will be

the owner of the initial Trump account (also referred to as

the “account beneficiary” of the Trump account). In order

for the child to qualify to receive the $1,000 pilot program

contribution to their Trump account, the child must meet

additional requirements. To see if a child can have an

initial Trump account established for them, see Account

Beneficiary, later. To see if the child is eligible for a pilot

program contribution, see Pilot Program Contribution

Election, later. To see who is an authorized individual who

can elect to establish the initial Trump account for a child,

see Authorized Individual, later.

Although a Trump account is a type of traditional IRA,

during the growth period, a Trump account is subject to

special rules that don’t apply to other IRAs. See Growth

Period and Special rules during the growth period, later.

During the growth period, Trump accounts can receive

contributions from several different sources, including

employer contributions. All Trump accounts must have a

trustee, and the trustee of a Trump account must either be

a bank or another person who is approved by the IRS to

be a nonbank trustee of a Trump account.

Growth Period

The growth period for a Trump account starts on the date

the Trump account is established and ends on December

31st of the year before the calendar year in which the child

turns age 18. For example, a child born on October 1,

Jan 8, 2026

2025, would turn age 18 on October 1, 2043. The last day

of the growth period for this child would be December 31,

2042.

During the growth period, a subsequent Trump account

(rollover Trump account) can be established for a child.

The rollover Trump account must be funded by a

trustee-to-trustee transfer of the entire account balance

from the child’s existing Trump account (qualified rollover

contribution).

Special rules during the growth period. During the

growth period, special rules apply, including:

1. A Trump account can only be invested in eligible

investments;

2. A Trump account has a separate contribution limit

from other IRAs;

3. No deduction is allowed by an individual under

section 219 for any contribution to a Trump account; and

4. A Trump account generally restricts distributions

from the account.

After the growth period, most of the special rules no

longer apply and the rules governing traditional IRAs

generally apply.

Authorized Individual

An authorized individual may elect to establish an initial

Trump account for a child by completing Form 4547. For

more information, including whether you can make these

elections online beginning in the middle of 2026, go to

trumpaccounts.gov.

Authorized individual to elect to only open an initial

Trump account. If the only election being made is to

open an initial Trump account (and no election for a pilot

program contribution is being made), an authorized

individual is a legal guardian, parent, adult sibling, or

grandparent of the child, in that order of priority. If more

than one person meets the conditions to be an authorized

individual, subject to the order of priority, and no prior

Trump account election has been made for the child, then

any of the authorized individuals can make the election.

For example, if the child doesn’t have a legal guardian,

then either parent of the child can make the election

regardless of filing status. The authorized individual who is

making the election must enter their information in Form

4547, Part I, and then complete Parts II and IV.

By making the election, the authorized individual is

representing, under penalties of perjury, that he or she is

authorized to open the initial Trump account for the child.

For example, if an adult sibling is making the election, they

would be representing that there was neither a legal

guardian nor parent of the child available to make the

election.

Authorized individual to elect to both open an

initial Trump account and to request a pilot program

Instructions for Form 4547 (Rev. 12-2025) Catalog Number 95942D

Department of the Treasury Internal Revenue Service www.irs.gov

contribution. If both an election to open an initial Trump

account and an election for a pilot program contribution

are being made, an authorized individual is an individual

who anticipates that the child will be his or her qualifying

child for the tax year in which the election is made. In

addition, if you are filing Form 4547 with your 2025 income

tax return, then you do not have to have claimed the child

as your dependent on the 2025 income tax return. If it is

later determined that the child is not the individual’s

qualifying child for the year in which the election is made,

these elections may still be effective as long as the child

has satisfied the other requirements for receiving the pilot

program contribution. See Pilot Program Contribution

Election, later. The authorized individual who is making

these elections must enter their information in Form 4547,

Part I, and complete Parts II, III, and IV.

By making these elections, the authorized individual is

representing, under penalties of perjury, that he or she is

authorized to open the initial Trump account for the child.

If an election is being made for the child to receive

a pilot program contribution, an authorized

CAUTION individual is one who anticipates that the child will

be his or her qualifying child for the tax year in which the

election is made. The authorized individual must check

the boxes on Form 4547, lines 6 and 7.

!

Note: The following paragraphs apply regardless of

whether the authorized individual is filing Form 4547 to

elect to open the initial Trump account or to elect a pilot

program contribution.

After the election is made, the Treasury Department, or

its agent, will send information to the authorized individual

who made the election to activate the account. The

activation of the Trump account will require an

authentication process, after which the authorized

individual can complete the opening of the initial Trump

account. The Treasury Department or its agent will send

this information starting in May 2026.

The authorized individual who made the election and

whose information appears in Form 4547, Part I, will be

the responsible party for the initial Trump account of the

child(ren) listed in Form 4547, Part II, while the child is a

minor. The responsible party may generally:

• Select among any eligible investments,

• Request a transfer for a qualified rollover contribution to

a rollover Trump account,

• Request a transfer for a qualified ABLE rollover

contribution to an ABLE account of the child at age 17, or

• Select someone to take over their responsibilities as the

responsible party (a successor responsible party for the

account).

Account Beneficiary

The child listed in Form 4547, Part II, is the owner of the

initial Trump account (also referred to as the “account

beneficiary” of the Trump account). Generally, an election

can be made to establish an initial Trump account for a

child if the child:

• Is under age 18 at the end of the year in which the

election was made (for an election in 2026, the child must

have been born after December 31, 2008);

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• Has a valid social security number issued before the

election is made (see Valid social security number (SSN),

later); and

• Has not had a Trump account election filed on their

behalf.

Valid social security number (SSN). The child must

have an SSN issued to them before the date of the Trump

account election. A valid SSN for purposes of Form 4547

is one that is valid for employment and that is issued by

the Social Security Administration (SSA) before the Trump

account election is made. If the child was a U.S. citizen

when he or she received the SSN, the SSN is valid for

employment. If “Not Valid for Employment” is printed on

the social security card and the child’s immigration status

has changed so that the child is now a U.S. citizen or

permanent resident, ask the SSA for a new social security

card without the legend. However, if “Valid for Work Only

with DHS Authorization” is printed on the social security

card, the child’s SSN is valid only as long as the DHS

authorization is valid.

Contributions

During the growth period, there are generally five types of

contributions that can be made to a Trump account. The

types of contributions are:

• Pilot program contributions from the U.S. Treasury of

$1,000 per child—see Pilot Program Contribution

Election, later;

• Qualified general contributions (funded by states (or

political subdivisions thereof), the United States, the

District of Columbia, Indian tribal governments, or section

501(c)(3) tax-exempt organizations) for members of a

qualified class of account beneficiaries;

• Employer contributions that are not includible in the

gross income of the employee under section 128 (section

128 employer contributions);

• Qualified rollover contributions (which are transfers to a

rollover Trump account of the entire amount of the child’s

prior Trump account); or

• Contributions from other sources (such as the child, the

child’s parents, or any other person).

!

Contributions cannot be made to a Trump account

before July 4, 2026.

CAUTION

Taxation of contributions. Contributions to a Trump

account during the growth period are not includible in

income by the account beneficiary when made. Pilot

program contributions, qualified general contributions, and

section 128 employer contributions do not create basis in

a Trump account. Qualified rollover contributions are

transfers from a prior Trump account and carry over any

basis attributable to the funds being transferred.

Contributions from other sources during the growth period

create basis in the Trump account. See Pub. 590-B

regarding the taxation of distributions from a traditional

IRA (including the treatment of basis).

Aggregate annual limitation. During the growth period,

contributions may be made to a Trump account even if the

child doesn’t have compensation that is included in their

income. Contributions from the pilot program, qualified

general contributions, or qualified rollover contributions

are not subject to an annual contribution limit. However,

Instructions for Form 4547 (12-2025)

the total of all other contributions (including section 128

employer contributions) during the growth period are

subject to an annual limit of $5,000 (subject to

cost-of-living adjustments after 2027).

Pilot Program Contribution Election

An authorized individual can make an election for a

$1,000 pilot program contribution to be made to a Trump

account for a child, who:

• Is anticipated to be the qualifying child of the authorized

individual for the year in which the election is made (see

Pub. 501 for further information regarding qualifying child

status);

• Is born after December 31, 2024, and before January 1,

2029;

• Has not had a prior pilot program contribution election

processed for them;

• Is a U.S. citizen; and

• Has an SSN. See Valid social security number (SSN),

earlier.

The election must be made on Form 4547. For more

information, including whether you can make these

elections online beginning in the middle of 2026, go to

trumpaccounts.gov. If your child is not eligible for a pilot

program contribution, the election to open an initial Trump

account must still be made on Form 4547 or, beginning in

the middle of 2026, online.

Timing of pilot program contribution. The Treasury

Department will make the pilot program contribution as

soon as practicable after the election is made and the

Treasury Department can confirm with the initial Trump

account trustee that the initial Trump account has been

opened. However, no pilot program contribution will be

deposited in the Trump account of a child earlier than July

4, 2026.

Section 128 Employer Contributions

A section 128 employer contribution to a Trump account

can be made to the employee’s Trump account or a Trump

account of a dependent of the employee. During the

growth period, section 128 employer contributions are

subject to a $2,500 limit (subject to cost-of-living

adjustments after 2027). Section 128 employer

contributions plus contributions from other sources (other

than a pilot program contribution, qualified general

contributions, and qualified rollover contributions) are

subject to a $5,000 annual limit.

Eligible Investments

During the growth period, a Trump account can only be

invested in eligible investments. An eligible investment,

generally, is a mutual fund or an exchange traded fund

(ETF) that tracks an index of primarily U.S. companies and

meets certain other requirements.

Distributions

During the growth period, the only distributions that can be

made from a Trump account are qualified rollover

contributions to a rollover Trump account, qualified ABLE

rollover contributions at age 17 to an ABLE account of the

account beneficiary, distributions of excess contributions,

and distributions upon death of the account beneficiary.

Instructions for Form 4547 (12-2025)

After the growth period (that is, starting January 1st of the

calendar year in which the child turns 18), most of the

rules that apply to traditional IRAs will generally apply to

the Trump account. For example, this means that

distributions from the Trump account could be subject to

the section 72(t) 10% additional tax on early distributions,

unless an exception applies with respect to the child (such

as for distributions for higher education expenses or first

home purchases).

When To File

Form 4547 can be filed at any time, including at the same

time as the income tax return is filed. For more

information, including whether you can make these

elections online beginning in the middle of 2026, go to

trumpaccounts.gov.

Where To File

Making the election electronically. The fastest, safest,

and easiest way to make the election(s) is to file Form

4547 with your current-year e-filed tax return. If you need

to make an election due to a qualifying event (for example,

the birth of a child who is eligible for a Trump account)

after you have filed your tax return or for information on

whether you can make these elections online, go to

trumpaccounts.gov.

Making the election on paper. If you must file your

Form 4547 on paper, mail it to the address at IRS.gov/

PaperReturns for your tax return for the year for which you

are making the election. Use the address for those who

are requesting a refund or are not enclosing a check or

money order.

Do not attach Form 4547 to Form 1040-X. Do not

amend Form 1040, 1040-SR, or 1040-NR to

CAUTION attach Form 4547.

!

Specific Instructions

Part I—Parent/Guardian or Other

Authorized Individual’s Information

Name. If you changed your name because of marriage,

divorce, etc., be sure to report the change to the SSA

before filing Form 4547.

Address. Print or type the information in the spaces

provided. Enter your box number only if your post office

doesn’t deliver mail to your street address. The word

“county” includes a parish or any other equivalent

subdivision of a state or territory of the United States.

Foreign address. If you have a foreign address, enter

the city name on the appropriate line. Don’t enter any

other information on that line, but complete the spaces

below that line. Don’t abbreviate the country name. Follow

the country’s practice for entering the postal code and the

name of the province, county, or state.

SSN. An incorrect or missing SSN may prevent the

processing of your election. Check that both the name and

SSN on your Form 4547 match your social security card. If

you are a nonresident or resident alien and you don’t have

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and aren’t eligible to get an SSN, enter your IRS individual

taxpayer identification number.

Part II—Child’s Information

Name. Check that both the name and SSN on Form 4547

match the child’s social security card. If you have more

than two children for whom you are electing to open a

Trump account, attach as many copies of Form 4547 as

are needed to provide the requested information for each

child.

Relationship. Enter the child’s relationship to you (for

example, your ward, son, daughter, brother, sister,

grandchild).

Address. If the child lives with you at the address

provided in Part I, check the box. Otherwise, print or type

the information in the spaces provided for the child on

lines 5a–i. The word “county” includes a parish or any

other equivalent subdivision of a state or territory of the

United States.

Foreign address. If the child has a foreign address,

enter the city name on the appropriate line. Don’t enter

any other information on that line, but complete the

spaces below that line. Don’t abbreviate the country

name. Follow the country’s practice for entering the postal

code and the name of the province, county, or state.

Line 6

For each child, check the box if you are authorized to open

the initial Trump account for the child.

If your child already has an open Trump account

and you are only filing Form 4547 to elect the pilot

CAUTION program contribution, all of Part II must be

completed with your child’s information (except for line 6)

in addition to Part III.

!

Even if your child is not eligible for a pilot program

contribution, the election to open an initial Trump

CAUTION account must still be made on Form 4547. For

more information, including whether you can make this

election online beginning in the middle of 2026, go to

trumpaccounts.gov. If your child is not eligible for a pilot

program contribution, don’t check the box on line 7.

!

Part IV—Consent To Disclose

Information

By completing Form 4547, you authorize the IRS,

Treasury, and their agent(s) to create and maintain a

Trump account with respect to the eligible child(ren) listed

in Part II of Form 4547. You also authorize the IRS,

Treasury, and their agent(s) to disclose the fact that a

Trump account has been established for the eligible

child(ren) listed in Part II to any parent, guardian, or

authorized individual of the eligible child who is permitted

to make an election to request creation of the initial Trump

account.

Sign Form 4547

Form 4547 isn’t considered valid unless you sign it in

accordance with the requirements in these instructions.

Be sure to date Form 4547. If you have someone prepare

Form 4547 for you, you are still responsible for the

correctness of the form. If Form 4547 is signed by a

representative for you, you must have a power of attorney

attached that specifically authorizes the representative to

sign Form 4547. To do this, you can use Form 2848.

Requirements for a paper Form 4547. You must

handwrite your signature on Form 4547 if you file it on

paper. Digital, electronic, or typed-font signatures are not

valid signatures for Form 4547 filed on paper.

Part III—Pilot Program Contribution

Election

Requirements for an electronic Form 4547. The

requirements for signing an electronic Form 4547 will be

different depending on whether you use tax software or a

tax practitioner. You should follow the instructions given to

you by the tax software or the tax practitioner.

Line 7

Paid Preparer Section

For each child, check the box if the child is eligible for, and

you want the child to receive, a pilot program contribution.

For a child to be eligible to receive the $1,000 pilot

program contribution to their Trump account, the child

must:

• Be anticipated to be a qualifying child of the authorized

individual making the pilot program contribution election;

• Have been born after December 31, 2024, and before

January 1, 2029;

• Have not had a prior pilot program contribution election

processed for them;

• Be a U.S. citizen; and

• Have a valid SSN.

See Pilot Program Contribution Election and Valid social

security number (SSN), earlier.

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If Form 4547 is filed by a paid preparer, the paid preparer

may complete this section.

Privacy, Disclosure, and Paperwork Reduction Act

Notice. We ask for the information to establish your right

to make an election for a Trump account and participate in

the pilot program contribution for an eligible child under

the Internal Revenue Code. We need this information to

ensure accounts are established with the child’s correct

information. You are not required to make these elections

and provide us the information. If you make the elections

and do not provide the information, we may not be able to

process your request. Sections 530A and 6109 and their

regulations require you to provide this information.

You aren’t required to provide the information requested

on a form that is subject to the Paperwork Reduction Act

unless the form displays a valid OMB control number. The

valid OMB control number for this information collection is

1545-2336. Books or records relating to a form or its

instructions must be retained as long as their contents

Instructions for Form 4547 (12-2025)

may become material in the administration of any Internal

Revenue law. Generally, tax returns and return information

are confidential, as required by Code section 6103.

The time needed to complete and file this form will vary

depending on individual circumstances. The estimated

average times are:

Recordkeeping.................................................................... 13 min.

Learning about the law or the form................................... 31 min.

Preparing and sending the form to the IRS...................... 27 min.

Instructions for Form 4547 (12-2025)

If you have comments concerning the accuracy of

these time estimates or suggestions for making this form

simpler, we would be happy to hear from you. You can

send us comments through IRS.gov/FormComments. Or

you can write to:

Internal Revenue Service

Tax Forms and Publications

1111 Constitution Ave. NW, IR-6526

Washington, DC 20224

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