How to open or claim a Trump Account
There are two ways in: claim the account Treasury already opened for your child, or elect one yourself with Form 4547. Here is who can do it, what you need, and the mistakes to avoid.
Prepared by Prem Tax and Accounting Corp. Last checked against official sources on October 9, 2026.
Two ways to get an account
| Claim the automatic account | Elect with Form 4547 | |
|---|---|---|
| Who it is for | Any child under 18 with an SSN and no account (opened by Treasury on Oct 1, 2026) | Parents who want to open an account now, or to request the $1,000 on a tax return |
| How | Official Trump Accounts app (iPhone or Android) | Form 4547 with your return, by mail, or online at TrumpAccounts.gov |
| Who signs in | The parent or guardian, after verifying identity | The authorized individual (see below) |
| Cost | Free | Free |
Claiming the automatic account
Download the official app
Use the official Trump Accounts app for iPhone or Android, or TrumpAccounts.gov. Do not follow links from texts or emails you did not expect.
Verify who you are
You confirm your identity and your relationship to the child.
Review your child's information
Check the name, date of birth and Social Security number the account was created with.
Accept the terms
Once claimed, the account can receive the $1,000 deposit (if eligible) and contributions from family, friends and employers.
Opening with Form 4547
Form 4547, Trump Account Election(s), opens an initial account and can also request the one-time $1,000 deposit. The person who elects is called the authorized individual.
- Account only: in order of priority, a legal guardian, a parent, an adult sibling, or a grandparent can make the election.
- Account plus the $1,000: the person who expects the child to be their qualifying child for the year makes the election.
- What you need: your name, address and SSN or ITIN; the child's name, SSN, address and relationship to you; your signature (handwritten on a paper form).
- Where to file: with your tax return (fastest), by mail, or online at TrumpAccounts.gov. Not with Form 1040-X.
Who qualifies
- For an account: the child needs a Social Security number issued before the election, and must not turn 18 before the end of the year of the election. Under the proposed rules, the election must be made by December 31 of the year the child turns 17.
- For the $1,000: the child must be born after December 31, 2024 and before January 1, 2029, be a U.S. citizen, have an SSN included with the election, be your qualifying child for the year, and not already have a pilot deposit.
Mistakes to avoid
- Electing the $1,000 for a child who is not your qualifying child. Improper elections can bring penalties.
- Entering the wrong Social Security number or date of birth.
- Waiting on the $1,000 without claiming the account.
- Using unofficial websites or apps. The official sources are TrumpAccounts.gov, the official app, and IRS.gov.
- Forgetting that more than one relative may try to elect for the same child. Only one pilot deposit is made per child.
We can prepare Form 4547 with your return and check that your child qualifies. Book a 20-minute call or use the contact form.
Common questions
Do I need Form 4547 if my child was automatically enrolled?
Not to have an account: Treasury created one. You need to claim it in the official app. Form 4547 is how you elect an account and, if your child qualifies, request the $1,000 pilot deposit. Treasury says the account must be claimed for the $1,000 to be deposited. Check the app for the current steps, and ask us if you are unsure.
Is there a deadline to open an account?
Under the proposed rules, an election must be made by December 31 of the year the child turns 17. Treasury has not announced a deadline to claim an auto-enrolled account.
Can I file Form 4547 with my tax return?
Yes. Filing it with your current-year return is described as the fastest method. You can also mail it separately or make the election online at TrumpAccounts.gov. Do not attach it to an amended return (Form 1040-X).
What if I made a mistake on the election?
An election for the $1,000 made for a child who does not qualify can bring penalties, and the form is signed under penalties of perjury. If you are not sure the child is your qualifying child, ask us before you file.
Official sources
- TrumpAccounts.gov (official)
- Treasury: automatic enrollment completed (Oct 1, 2026)
- IRS: Form 4547 and instructions
- IRS: Instructions for Form 4547
- IRS: proposed rules on opening accounts
- IRS: proposed rules on the $1,000 pilot
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