IRS Releases Form and Instructions for Establishing Trump Accounts

The Internal Revenue Service (IRS) has issued Form 4547, Trump Account Election(s), and accompanying Instructions. The form will be used to make the election to establish an initial Trump account for an eligible child. It will also be used 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. The instructions refer to trumpaccounts.gov for more information, including whether these elections may be made online beginning in the middle of 2026.

Draft versions of the form and instructions were posted last month. The IRS is inviting comments on the new form.