IRS adds Trump Account election filing to individual accounts

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IRS adds Trump Account filing

Highlights

IRS Individual Account now supports electronic filing and real-time status tracking for Form 4547, Trump Account Election(s), improving processing speed and accuracy.
Trump Accounts, created under the One, Big, Beautiful Bill enacted July 4, 2025, allow tax-advantaged retirement accounts to be opened for minors with valid Social Security numbers.
The Department of the Treasury offers a one-time $1,000 pilot program contribution for eligible children born between Jan. 1, 2025, and Dec. 31, 2028.

Digital filing rollout for Trump Accounts

As announced by the Internal Revenue Service, taxpayers can now use IRS Individual Account to check the latest submission status of Form 4547, Trump Account Election(s), and file the form electronically.

The agency says the new functions are part of its digital-first strategy to make common tax tasks faster and more secure. IRS Chief Executive Officer Frank J. Bisignano says the changes are designed to give taxpayers a smoother experience while adding another tool for managing tax-related actions online.

Electronic filing is also expected to improve accuracy, shorten processing times and reduce delays tied to paper submissions. Taxpayers can follow next steps in the election process through real-time status visibility in their online accounts.

Eligibility rules and taxpayer impact

Trump Accounts were created through the One, Big, Beautiful Bill, which was enacted on July 4, 2025. The accounts allow parents, guardians and other authorized individuals to establish a new type of individual retirement account for children.

An account can be opened for a child who has not reached age 18 by the end of the calendar year in which the election is made and who has a valid Social Security number. The Department of the Treasury also offers a one-time $1,000 pilot program contribution for eligible children born between Jan. 1, 2025, and Dec. 31, 2028, if they are U.S. citizens with a valid Social Security number.

The new online access could broaden use of the program by lowering administrative friction for families and speeding document handling. The IRS says it continues to provide updates and additional information on tax benefits tied to the legislation.

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