About Form 4547, Trump Account Election(s) | Internal Revenue Service
Summary: Form 4547 is used by authorized individuals to establish a Trump account (a type of traditional IRA) for a child and to request a $1,000 pilot program contribution from the U.S. Treasury.
Form 4547 provides instructions for establishing a Trump account, a traditional IRA designed for the exclusive benefit of a child. The form allows authorized individuals—such as parents, guardians, or grandparents—to open an initial account and, if eligible, elect to receive a $1,000 pilot program contribution. The instructions detail eligibility requirements for the child and the authorized individual, contribution limits, investment restrictions during the 'growth period' (ending the year before the child turns 18), and procedures for filing the form electronically or by paper.
Document outline
1. Future Developments 2. Purpose of Form 3. What Is a Trump Account? 4. Growth Period 5. Authorized Individual 6. Account Beneficiary 7. Contributions 8. Pilot Program Contribution Election 9. Section 128 Employer Contributions 10. Eligible Investments 11. Distributions 12. When To File 13. Where To File 14. Specific Instructions 15. Part I—Parent/Guardian or Other Authorized Individual’s Information 16. Part II—Child’s Information 17. Part III—Pilot Program Contribution Election 18. Part IV—Consent To Disclose Information 19. Sign Form 4547