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Instructions for Form 4547 PDF

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Instructions for Form 4547
(Rev. December 2025)
Trump Account Election(s)
Section references are to the Internal Revenue Code 2025, would turn age 18 on October 1, 2043. The last day
unless otherwise noted. of the growth period for this child would be December 31,
2042.
Future Developments During the growth period, a subsequent Trump account
For the latest information about developments related to (rollover Trump account) can be established for a child.
Form 4547 and its instructions, such as legislation The rollover Trump account must be funded by a
enacted after they were published, go to IRS.gov/ trustee-to-trustee transfer of the entire account balance
Form4547. from the child’s existing Trump account (qualified rollover
contribution).
Purpose of Form Special rules during the growth period. During the
growth period, special rules apply, including:
Use Form 4547 to make the election to establish an initial
1. A Trump account can only be invested in eligible
Trump account for the exclusive benefit of a child who is
investments;
eligible for a Trump account. Also, use Form 4547 to make
an election for a $1,000 pilot program contribution from 2. A Trump account has a separate contribution limit
the U.S. Treasury to a child’s Trump account if they are from other IRAs;
eligible for the contribution. For more information, 3. No deduction is allowed by an individual under
including whether you can make these elections online section 219 for any contribution to a Trump account; and
beginning in the middle of 2026, go to trumpaccounts.gov. 4. A Trump account generally restricts distributions
from the account.
General Instructions After the growth period, most of the special rules no
longer apply and the rules governing traditional IRAs
What Is a Trump Account? generally apply.
A Trump account is a type of traditional individual
retirement account (IRA) established by an authorized Authorized Individual
individual for the exclusive benefit of a child listed in Form An authorized individual may elect to establish an initial
4547, Part II. The child listed in Form 4547, Part II, will be Trump account for a child by completing Form 4547. For
the owner of the initial Trump account (also referred to as more information, including whether you can make these
the “account beneficiary” of the Trump account). In order elections online beginning in the middle of 2026, go to
for the child to qualify to receive the $1,000 pilot program trumpaccounts.gov.
contribution to their Trump account, the child must meet Authorized individual to elect to only open an initial
additional requirements. To see if a child can have an Trump account. If the only election being made is to
initial Trump account established for them, see Account open an initial Trump account (and no election for a pilot
Beneficiary, later. To see if the child is eligible for a pilot program contribution is being made), an authorized
program contribution, see Pilot Program Contribution individual is a legal guardian, parent, adult sibling, or
Election, later. To see who is an authorized individual who grandparent of the child, in that order of priority. If more
can elect to establish the initial Trump account for a child, than one person meets the conditions to be an authorized
see Authorized Individual, later. individual, subject to the order of priority, and no prior
Although a Trump account is a type of traditional IRA, Trump account election has been made for the child, then
during the growth period, a Trump account is subject to any of the authorized individuals can make the election.
special rules that don’t apply to other IRAs. See Growth For example, if the child doesn’t have a legal guardian,
Period and Special rules during the growth period, later. then either parent of the child can make the election
During the growth period, Trump accounts can receive regardless of filing status. The authorized individual who is
contributions from several different sources, including making the election must enter their information in Form
employer contributions. All Trump accounts must have a 4547, Part I, and then complete Parts II and IV.
trustee, and the trustee of a Trump account must either be By making the election, the authorized individual is
a bank or another person who is approved by the IRS to representing, under penalties of perjury, that he or she is
be a nonbank trustee of a Trump account. authorized to open the initial Trump account for the child.
For example, if an adult sibling is making the election, they
Growth Period would be representing that there was neither a legal
The growth period for a Trump account starts on the date guardian nor parent of the child available to make the
the Trump account is established and ends on December election.
31st of the year before the calendar year in which the child Authorized individual to elect to both open an
turns age 18. For example, a child born on October 1, initial Trump account and to request a pilot program
Instructions for Form 4547 (Rev. 12-2025) Catalog Number 95942D
Jan 8, 2026 Department of the Treasury Internal Revenue Service www.irs.gov
contribution. If both an election to open an initial Trump • Has a valid social security number issued before the
account and an election for a pilot program contribution election is made (see Valid social security number (SSN),
are being made, an authorized individual is an individual later); and
who anticipates that the child will be his or her qualifying • Has not had a Trump account election filed on their
child for the tax year in which the election is made. In behalf.
addition, if you are filing Form 4547 with your 2025 income Valid social security number (SSN). The child must
tax return, then you do not have to have claimed the child have an SSN issued to them before the date of the Trump
as your dependent on the 2025 income tax return. If it is account election. A valid SSN for purposes of Form 4547
later determined that the child is not the individual’s is one that is valid for employment and that is issued by
qualifying child for the year in which the election is made, the Social Security Administration (SSA) before the Trump
these elections may still be effective as long as the child account election is made. If the child was a U.S. citizen
has satisfied the other requirements for receiving the pilot when he or she received the SSN, the SSN is valid for
program contribution. See Pilot Program Contribution employment. If “Not Valid for Employment” is printed on
Election, later. The authorized individual who is making the social security card and the child’s immigration status
these elections must enter their information in Form 4547, has changed so that the child is now a U.S. citizen or
Part I, and complete Parts II, III, and IV. permanent resident, ask the SSA for a new social security
By making these elections, the authorized individual is card without the legend. However, if “Valid for Work Only
representing, under penalties of perjury, that he or she is with DHS Authorization” is printed on the social security
authorized to open the initial Trump account for the child. card, the child’s SSN is valid only as long as the DHS
authorization is valid.
If an election is being made for the child to receive
! a pilot program contribution, an authorized Contributions
CAUTION individual is one who anticipates that the child will
During the growth period, there are generally five types of
be his or her qualifying child for the tax year in which the contributions that can be made to a Trump account. The
election is made. The authorized individual must check types of contributions are:
the boxes on Form 4547, lines 6 and 7. • Pilot program contributions from the U.S. Treasury of
$1,000 per child—see Pilot Program Contribution
Note: The following paragraphs apply regardless of Election, later;
whether the authorized individual is filing Form 4547 to • Qualified general contributions (funded by states (or
elect to open the initial Trump account or to elect a pilot political subdivisions thereof), the United States, the
program contribution. District of Columbia, Indian tribal governments, or section
501(c)(3) tax-exempt organizations) for members of a
After the election is made, the Treasury Department, or qualified class of account beneficiaries;
its agent, will send information to the authorized individual • Employer contributions that are not includible in the
who made the election to activate the account. The gross income of the employee under section 128 (section
activation of the Trump account will require an 128 employer contributions);
authentication process, after which the authorized • Qualified rollover contributions (which are transfers to a
individual can complete the opening of the initial Trump rollover Trump account of the entire amount of the child’s
account. The Treasury Department or its agent will send prior Trump account); or
this information starting in May 2026. • Contributions from other sources (such as the child, the
child’s parents, or any other person).
The authorized individual who made the election and
whose information appears in Form 4547, Part I, will be Contributions cannot be made to a Trump account
the responsible party for the initial Trump account of the ! before July 4, 2026.
child(ren) listed in Form 4547, Part II, while the child is a CAUTION

minor. The responsible party may generally: Taxation of contributions. Contributions to a Trump
• Select among any eligible investments, account during the growth period are not includible in
• Request a transfer for a qualified rollover contribution to income by the account beneficiary when made. Pilot
a rollover Trump account, program contributions, qualified general contributions, and
• Request a transfer for a qualified ABLE rollover section 128 employer contributions do not create basis in
contribution to an ABLE account of the child at age 17, or a Trump account. Qualified rollover contributions are
• Select someone to take over their responsibilities as the transfers from a prior Trump account and carry over any
responsible party (a successor responsible party for the basis attributable to the funds being transferred.
account). Contributions from other sources during the growth period
Account Beneficiary create basis in the Trump account. See Pub. 590-B
regarding the taxation of distributions from a traditional
The child listed in Form 4547, Part II, is the owner of the IRA (including the treatment of basis).
initial Trump account (also referred to as the “account
beneficiary” of the Trump account). Generally, an election Aggregate annual limitation. During the growth period,
can be made to establish an initial Trump account for a contributions may be made to a Trump account even if the
child if the child: child doesn’t have compensation that is included in their
• Is under age 18 at the end of the year in which the income. Contributions from the pilot program, qualified
election was made (for an election in 2026, the child must general contributions, or qualified rollover contributions
have been born after December 31, 2008); are not subject to an annual contribution limit. However,

2 Instructions for Form 4547 (12-2025)
the total of all other contributions (including section 128 After the growth period (that is, starting January 1st of the
employer contributions) during the growth period are calendar year in which the child turns 18), most of the
subject to an annual limit of $5,000 (subject to rules that apply to traditional IRAs will generally apply to
cost-of-living adjustments after 2027). the Trump account. For example, this means that
distributions from the Trump account could be subject to
Pilot Program Contribution Election the section 72(t) 10% additional tax on early distributions,
An authorized individual can make an election for a unless an exception applies with respect to the child (such
$1,000 pilot program contribution to be made to a Trump as for distributions for higher education expenses or first
account for a child, who: home purchases).
• Is anticipated to be the qualifying child of the authorized
individual for the year in which the election is made (see When To File
Pub. 501 for further information regarding qualifying child Form 4547 can be filed at any time, including at the same
status); time as the income tax return is filed. For more
• Is born after December 31, 2024, and before January 1, information, including whether you can make these
2029; elections online beginning in the middle of 2026, go to
• Has not had a prior pilot program contribution election trumpaccounts.gov.
processed for them;
• Is a U.S. citizen; and Where To File
• Has an SSN. See Valid social security number (SSN), Making the election electronically. The fastest, safest,
earlier. and easiest way to make the election(s) is to file Form
The election must be made on Form 4547. For more 4547 with your current-year e-filed tax return. If you need
information, including whether you can make these to make an election due to a qualifying event (for example,
elections online beginning in the middle of 2026, go to the birth of a child who is eligible for a Trump account)
trumpaccounts.gov. If your child is not eligible for a pilot after you have filed your tax return or for information on
program contribution, the election to open an initial Trump whether you can make these elections online, go to
account must still be made on Form 4547 or, beginning in trumpaccounts.gov.
the middle of 2026, online. Making the election on paper. If you must file your
Timing of pilot program contribution. The Treasury Form 4547 on paper, mail it to the address at IRS.gov/
Department will make the pilot program contribution as PaperReturns for your tax return for the year for which you
soon as practicable after the election is made and the are making the election. Use the address for those who
Treasury Department can confirm with the initial Trump are requesting a refund or are not enclosing a check or
account trustee that the initial Trump account has been money order.
opened. However, no pilot program contribution will be Do not attach Form 4547 to Form 1040-X. Do not
deposited in the Trump account of a child earlier than July amend Form 1040, 1040-SR, or 1040-NR to
4, 2026. !
CAUTION attach Form 4547.

Section 128 Employer Contributions
A section 128 employer contribution to a Trump account
Specific Instructions
can be made to the employee’s Trump account or a Trump Part I—Parent/Guardian or Other
account of a dependent of the employee. During the
growth period, section 128 employer contributions are Authorized Individual’s Information
subject to a $2,500 limit (subject to cost-of-living Name. If you changed your name because of marriage,
adjustments after 2027). Section 128 employer divorce, etc., be sure to report the change to the SSA
contributions plus contributions from other sources (other before filing Form 4547.
than a pilot program contribution, qualified general
contributions, and qualified rollover contributions) are Address. Print or type the information in the spaces
subject to a $5,000 annual limit. provided. Enter your box number only if your post office
doesn’t deliver mail to your street address. The word
Eligible Investments “county” includes a parish or any other equivalent
During the growth period, a Trump account can only be subdivision of a state or territory of the United States.
invested in eligible investments. An eligible investment, Foreign address. If you have a foreign address, enter
generally, is a mutual fund or an exchange traded fund the city name on the appropriate line. Don’t enter any
(ETF) that tracks an index of primarily U.S. companies and other information on that line, but complete the spaces
meets certain other requirements. below that line. Don’t abbreviate the country name. Follow
Distributions the country’s practice for entering the postal code and the
name of the province, county, or state.
During the growth period, the only distributions that can be
made from a Trump account are qualified rollover SSN. An incorrect or missing SSN may prevent the
contributions to a rollover Trump account, qualified ABLE processing of your election. Check that both the name and
rollover contributions at age 17 to an ABLE account of the SSN on your Form 4547 match your social security card. If
account beneficiary, distributions of excess contributions, you are a nonresident or resident alien and you don’t have
and distributions upon death of the account beneficiary.

Instructions for Form 4547 (12-2025) 3
and aren’t eligible to get an SSN, enter your IRS individual Even if your child is not eligible for a pilot program
taxpayer identification number. ! contribution, the election to open an initial Trump
CAUTION account must still be made on Form 4547. For

Part II—Child’s Information more information, including whether you can make this
election online beginning in the middle of 2026, go to
Name. Check that both the name and SSN on Form 4547 trumpaccounts.gov. If your child is not eligible for a pilot
match the child’s social security card. If you have more program contribution, don’t check the box on line 7.
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 Part IV—Consent To Disclose
child. Information
Relationship. Enter the child’s relationship to you (for By completing Form 4547, you authorize the IRS,
example, your ward, son, daughter, brother, sister, Treasury, and their agent(s) to create and maintain a
grandchild). Trump account with respect to the eligible child(ren) listed
Address. If the child lives with you at the address in Part II of Form 4547. You also authorize the IRS,
provided in Part I, check the box. Otherwise, print or type Treasury, and their agent(s) to disclose the fact that a
the information in the spaces provided for the child on Trump account has been established for the eligible
lines 5a–i. The word “county” includes a parish or any child(ren) listed in Part II to any parent, guardian, or
other equivalent subdivision of a state or territory of the authorized individual of the eligible child who is permitted
United States. to make an election to request creation of the initial Trump
account.
Foreign address. If the child has a foreign address,
enter the city name on the appropriate line. Don’t enter Sign Form 4547
any other information on that line, but complete the Form 4547 isn’t considered valid unless you sign it in
spaces below that line. Don’t abbreviate the country accordance with the requirements in these instructions.
name. Follow the country’s practice for entering the postal Be sure to date Form 4547. If you have someone prepare
code and the name of the province, county, or state. Form 4547 for you, you are still responsible for the
correctness of the form. If Form 4547 is signed by a
Line 6
representative for you, you must have a power of attorney
For each child, check the box if you are authorized to open attached that specifically authorizes the representative to
the initial Trump account for the child. sign Form 4547. To do this, you can use Form 2848.
If your child already has an open Trump account Requirements for a paper Form 4547. You must
! and you are only filing Form 4547 to elect the pilot handwrite your signature on Form 4547 if you file it on
CAUTION program contribution, all of Part II must be
paper. Digital, electronic, or typed-font signatures are not
completed with your child’s information (except for line 6) valid signatures for Form 4547 filed on paper.
in addition to Part III.
Requirements for an electronic Form 4547. The
requirements for signing an electronic Form 4547 will be
Part III—Pilot Program Contribution different depending on whether you use tax software or a
tax practitioner. You should follow the instructions given to
Election 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 If Form 4547 is filed by a paid preparer, the paid preparer
you want the child to receive, a pilot program contribution. may complete this section.
For a child to be eligible to receive the $1,000 pilot
program contribution to their Trump account, the child Privacy, Disclosure, and Paperwork Reduction Act
must: Notice. We ask for the information to establish your right
• Be anticipated to be a qualifying child of the authorized to make an election for a Trump account and participate in
individual making the pilot program contribution election; the pilot program contribution for an eligible child under
• Have been born after December 31, 2024, and before the Internal Revenue Code. We need this information to
January 1, 2029; ensure accounts are established with the child’s correct
• Have not had a prior pilot program contribution election information. You are not required to make these elections
processed for them; and provide us the information. If you make the elections
• Be a U.S. citizen; and and do not provide the information, we may not be able to
• Have a valid SSN. process your request. Sections 530A and 6109 and their
See Pilot Program Contribution Election and Valid social regulations require you to provide this information.
security number (SSN), earlier. 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

4 Instructions for Form 4547 (12-2025)
may become material in the administration of any Internal If you have comments concerning the accuracy of
Revenue law. Generally, tax returns and return information these time estimates or suggestions for making this form
are confidential, as required by Code section 6103. simpler, we would be happy to hear from you. You can
The time needed to complete and file this form will vary send us comments through IRS.gov/FormComments. Or
depending on individual circumstances. The estimated you can write to:
average times are:
Internal Revenue Service
Tax Forms and Publications
Recordkeeping.................................................................... 13 min.
1111 Constitution Ave. NW, IR-6526
Learning about the law or the form................................... 31 min.
Washington, DC 20224
Preparing and sending the form to the IRS...................... 27 min.

Instructions for Form 4547 (12-2025) 5

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