Do I need an ID.me account to file Form 4547 online?

Yes. The online election runs through your IRS Individual Online Account, which uses ID.me to verify your identity, and you create one during sign-in at irs.gov/trumpaccounts if you do not have it yet. The child also needs a valid Social Security number before the $1,000 pilot contribution can be processed.

Can I add more than one child on the same Form 4547?

Yes. The online wizard lets you add up to four children in a single election, each with their own name, relationship, address, and pilot-contribution choice. Each eligible child can receive the one-time $1,000 federal contribution, since the $1,000 is per child, not per election.

Is the $1,000 Trump Account contribution taxable?

Not when it is deposited. Inside the account the $1,000 is treated as pre-tax money, like an employer contribution, so it and its earnings are taxed as ordinary income when distributed after the child is grown, the same way a traditional IRA under IRC §530A is taxed. Personal after-tax contributions, by contrast, create basis and are not taxed again on withdrawal.

What if I select No or skip the pilot program contribution?

The account still opens, but with a $0 balance, because the $1,000 is a separate election from opening the account. Select Yes on the Pilot program contribution question before you submit. The pilot is a one-time election, so do not count on adding it afterward through an amended filing.

Can grandparents or relatives add money to the account later?

Yes. Up to a combined $5,000 a year for 2026 can go into the account from family and others, and an employer can add up to $2,500 of that under IRC §128. No contribution of any kind can post before July 4, 2026, and the $2,500 employer cap applies per employee.

The Journal / Family Tax

How to File Form 4547 Online in 2026 to Open a Trump Account and Claim the $1,000.

By Ewan Morkel, EAJune 29, 20265 min read

Filing Form 4547 is now a short online wizard inside your IRS account. Here is how to file Form 4547 online in 2026 to open a Trump Account for your child and claim the free $1,000 federal contribution, step by step.

A parent with a baby born in 2026 hears that the federal government will put $1,000 into a retirement account for their child, for free. The catch is that you have to claim it, and as of 2026 you do that online through your IRS account, not on paper. Here is how to file Form 4547 online in 2026 to open a Trump Account and claim the $1,000 pilot contribution. The whole thing is a short guided wizard, and once you finish the flow below, you just review and submit.

A Trump Account is a new kind of individual retirement account opened for a child, created by the law the IRS calls the Working Families Tax Cuts, part of the One Big Beautiful Bill Act signed July 4, 2025, under IRC §530A. The pilot program pays a one-time $1,000 into the account for an eligible child, meaning a U.S. citizen with a valid Social Security number, born between January 1, 2025 and December 31, 2028. A baby born any time in 2026 qualifies. The money is not automatic. Form 4547 is the election that claims it, and you can do it from your couch.

The walkthrough

How to file Form 4547 online in 2026

Go to irs.gov/trumpaccounts and sign in, or create an account, with ID.me. Inside your IRS Individual Online Account, open the Forms menu, choose Trump Accounts, and select Begin form. That starts a four-step wizard: Your information, Add child, Review and submit, and Confirmation. Here is the flow.

The irs.gov/trumpaccounts landing page showing the three-step How it works summary: sign in, elect, check status. — Start at irs.gov/trumpaccounts. The How it works strip lays out the whole process: sign in, elect, check status.

The Trump Accounts page inside the IRS Individual Online Account with a Begin form button and an Election status section. — Once signed in, open Forms then Trump Accounts and select Begin form. Your submitted elections later appear under Election status.

Step 1 of the Trump Accounts wizard, Your information, with pre-populated personal details to review. — Step 1, Your information. The wizard pre-fills your details from your IRS account. Review and correct what you can, then continue.

Step 2 of the wizard, Add child, with fields for the child's first, middle, and last name. — Step 2, Add child. Enter the child's name and, further down, your relationship and the child's address. Up to four children per election.

The Pilot program contribution question with Yes and No options to request the $1,000 federal contribution for the child. — The step people miss. Select Yes under Pilot program contribution to claim the $1,000. Leave it on No and the account opens with zero.

After the Add child step, the wizard moves to Review and submit, then shows a Confirmation. That is the whole election. You can come back later and check the Election status section on the Trump Accounts page in your account, though a status submitted through trumpaccounts.gov may take time to appear.

The Review and submit step of the Trump Accounts wizard before final submission. — Step 3, Review and submit. Confirm the details, submit, and you are done. A Confirmation screen follows.

The fine print

Who can file, and when the money lands

An authorized individual can open the account, meaning a parent, legal guardian, adult sibling, or grandparent, in that order of priority. The $1,000 pilot election, though, has to be made by someone who can claim the child, which in practice means a parent. The account is for a child who has not turned 18 before the end of the calendar year in which the election is made. One date you cannot move: no contribution of any kind, including the $1,000, can post before July 4, 2026, so a baby born early in 2026 will not see the deposit until that summer at the earliest.

Trump Account funding for a child born in 2026.

One-time federal pilot contribution: $1,000
Your cost to file Form 4547 online: $0
Annual combined contribution limit (2026): $5,000
Of which an employer may add under §128: up to $2,500
Earliest any contribution can post: July 4, 2026
Children allowed in one election: up to 4

Tax year 2026. The $5,000 annual limit and the $2,500 employer limit under IRC §128 are indexed for inflation in later years. The $1,000 pilot contribution does not count against the $5,000 cap. Assumes a U.S.-citizen child with a valid SSN, born between January 1, 2025 and December 31, 2028.

After you submit

What happens to the money

Trump Account dollars can only sit in a low-cost fund that tracks a U.S. equity index, so think an S&P 500 index fund, not hand-picked stocks. The money grows untouched until the child is grown, then the account becomes an ordinary traditional IRA, with normal IRA rules and the 10% early-withdrawal penalty under §72(t) before age 59½. The $1,000 from the government is pre-tax, so it and its earnings are taxed as ordinary income when distributed. A free $1,000 compounding for 18 years is a real head start, and it is the same early-and-tax-advantaged logic behind Peter Thiel's Roth IRA strategy and the backdoor Roth IRA once that child is earning. The hard part is not the strategy. It is remembering to select Yes.