This Form 4547 guide explains the IRS Trump Account Election(s). Form 4547 records elections involving an initial Trump Account and a request for the pilot contribution when the eligibility rules are met. Opening an account, requesting a contribution and making or receiving later contributions are separate matters. The election requires accurate information about the eligible individual and responsible filer.
Reviewed October 31, 2026. This is an independent guide. The version and availability information below identifies the IRS documents used for this page.
What Form 4547 does and who prepares it
An eligible filer uses the form to make the Trump Account elections described in its instructions.
For the connected reporting route, see Form 1040. Keep the role of that document separate from the task explained on this page.
| Official form | Form 4547 |
|---|---|
| IRS title | Trump Account Election(s) |
| Guide period | the applicable reporting period |
| Target version | Dec 2025 |
| Availability | Current IRS catalog PDF |
| Last checked | October 31, 2026 |
Get the Form 4547 PDF and check its status
Use the IRS source to confirm the document before completing a real filing. The download link is a reference to the official file; it is not a statement that every copy inside the PDF may be printed and submitted. Follow any instructions about electronic filing, scannable copies, recipient copies or attachments.
Which version of Form 4547 should you use?
This form follows a revision or continuing-use format rather than a new title for every calendar year. Check the revision printed on the document and the period requested inside it. A revision date, transaction date and tax year are different pieces of information. The current document should be read with the instructions that apply to the actual transaction or return.
Records to gather for Form 4547
- Eligible individual identity details.
- Authorized filer information.
- Account-election records.
- Pilot eligibility support.
- Prior election confirmations.
Keep a working reconciliation with these records. It should show the source of each reported item, any correction made before filing and the reason a different amount appears on a connected form. This is especially useful when a statement is corrected or a prior-year balance continues into the current calculation.
How to work through Form 4547
- Confirm applicability. Start with the purpose, filer category and version of the form. Complete any eligibility or applicability question before spending time on the numerical calculation.
- Prepare the source workpapers. Gather the records listed below and reconcile their totals. Keep prior-year balances, current-year transactions and estimated payments separate where they serve different purposes.
- Complete dependent calculations first. When a line refers to another form, schedule or worksheet, finish that supporting calculation first. Preserve any classification, limitation and carryforward information.
- Follow the line sequence. Use the actual line labels and arithmetic in the applicable form. A line number from an older version may refer to something different after a revision.
- Reconcile the filing package. Check names, identifying numbers, tax periods, totals and required attachments. Then use the filing method, signature process and deadline that apply to this filer and form.
Form-specific IRS instructions and reporting details
The following points retain the operative wording of the IRS documents linked above. Read each point with its stated conditions and the applicable form version. References to another form or section describe a connected requirement; they do not mean that every reader must file every referenced document.
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.
Additional reporting conditions
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).
Calculations and supporting information
• 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.
Exceptions and related reporting
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).
Further form details
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 attach Form 4547.
Even 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. 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.
Further form details
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.
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.
Further form details
If you have a child that is eligible for a Trump account, and you want to open a Trump account for that child, complete Form 4547. • For each child that is eligible and for whom you want to open a Trump account, complete Parts I, II, and IV. • For each child that is eligible to receive a $1,000 Pilot Program Contribution, check the box in Part III, line 7, in order to receive the contribution.
Reading the lines and boxes
These selected labels come from the linked target PDF. They are a reading aid, not a replacement for the full line instructions or a completed calculation. Match the label and document version before transferring any amount.
| Line or box | Label in the source form | What to check |
|---|---|---|
| 2 | Social security number | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| 3 | Date of birth | Use the date or tax period requested by this particular field. A payment date, acquisition date and return year can describe different facts. |
| 4 | Relationship | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| 5 | Home Address | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| 6 | Check box if you are authorized to open the Trump | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
Further selected fields
| Line or box | Label in the source form | What to check |
|---|---|---|
| 7 | Check box if child qualifies for, and you want the | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
A practical example
A parent reviews whether the child and filer meet the applicable election conditions. The parent checks the identifying information, makes the supported elections and retains confirmation for any later account administration or contribution reporting.
This example illustrates the order of the review. It does not assume an unverified deduction, exemption, treaty rate or final tax amount. The applicable form instructions and the actual records determine the result.
Common mistakes to avoid with Form 4547
- An election form is not proof that a contribution has already arrived.
- Check the pilot eligibility rules separately from the account-opening election.
- Do not submit duplicate or inconsistent elections without following the instructions.
Questions about Form 4547
Does receiving or downloading this form mean I must file it?
An eligible filer uses the form to make the Trump Account elections described in its instructions. The form purpose and the applicable filing or furnishing conditions determine the action. Downloading a blank PDF does not itself create a filing obligation or establish eligibility for a tax benefit.
Is the revision date always the same as the tax year?
No. Some forms show a tax year, while continuing-use forms show a revision date and ask separately for the reporting period. Check the actual document and instructions. Do not relabel a payment or transaction solely because it was reported in a later calendar year.
What should I do if the underlying information is wrong?
An election form is not proof that a contribution has already arrived. Keep the original record and the correction trail. The issuer correction process, an amended return and an updated certificate can be different procedures. Choose the process that matches the document and the actual error.
Which records should I keep with the completed form?
Retain the source documents, applicable worksheets, submitted version and filing or furnishing confirmations. For this form, the working file should include eligible individual identity details, authorized filer information, account-election records. Keep continuing balances and prior-year support for as long as they remain relevant under the applicable recordkeeping rules.
Related forms and next steps
Use these guides when the connected issue applies to your records. Each page has its own purpose, reporting year and availability status.