IRS Form 4547 is a document used to open a Trump account for a child and request the $1,000 pilot contribution.
Take advantage of our editable Form 4547 to enter your details, make changes, and start the download in minutes, with no software required.
Form 4547, Trump Account Election(s), is used to elect to establish an initial Trump account for an eligible child and request the one-time $1,000 pilot contribution if the child qualifies. It collects information about the child and the authorized individual. After the election, the authorized individual must complete the account activation process.
For an account-only election, Form 4547 should be used by an authorized individual, or the child’s legal guardian, parent, adult sibling, or grandparent, in that order of priority. The child must be under 18 at the end of the election year, have a valid SSN issued before the election, and have no prior Trump account election.
The child must also be a U.S. citizen born in 2025–2028, have a valid SSN, and have no previously processed pilot contribution election.
Form 4547 is not tied to the annual income tax return deadline and can be submitted separately or with your return. However, the election to open an initial account must be made by December 31 of the year the child turns 17.
There is no penalty if Form 4547 is not submitted, as this is a voluntary election. However, you do generally need an election to establish the initial account, and the $1,000 pilot contribution requires its own election.
Form 4547 penalties can apply to improper pilot contribution elections. Under section 6659, an election for an ineligible child carries a $500 penalty if made through negligence or disregard of the rules, or a $1,000 penalty if made fraudulently.
You can file Form 4547 by submitting it electronically through your IRS Individual Account or include it with your current-year e-filed tax return.
For paper filing, use the address listed at IRS.gov/PaperReturns for your return type and the year for which you are making the election. Choose the address for returns without a payment, and do not attach Form 4547 to Form 1040-X or amend your income tax return solely to include it.
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3You can get a blank Form 4547 by opening it in our editor, filling it out, and downloading it. There’s no need to install any programs; everything can be done within your browser, on any device.
Yes, you can submit Form 4547 electronically through your IRS Individual Account or with your current-year e-filed tax return. If you file on paper, you must sign the form by hand; typed or digital signatures are not accepted on paper submissions.
If your Form 4547 is missing information, the IRS may be unable to process it. A missing or incorrect SSN can block the election, and names must match Social Security cards. It’s recommended that you compare your entries with the instructions or a Form 4547 example first.
Yes, you can fill out Form 4547 online in our editor and download the completed copy. If you file on paper, print it and sign by hand, since typed or digital signatures aren't valid on a paper form.
Form 4547 itself is free to open and modify based on your needs, but you need to pay if you want to save the finished document.
Yes, you can correct mistakes on Form 4547, but the next step depends on whether you have submitted it. After submission, you should check your IRS Individual Account for the election’s status and next steps, and follow any other Form 4547 instructions. Also, do not attach Form 4547 to Form 1040-X or amend your income tax return solely to include it.
The IRS does not provide a fixed processing timeframe for Form 4547. After the election, Treasury or its agent sends account-activation instructions to the authorized individual. If you elected the $1,000 pilot contribution for an eligible child, Treasury deposits it as soon as practicable after confirming that the account is open. You can check your election’s status and next steps through your IRS Individual Account.