How to Open a Trump Account for Your Baby: A Step-by-Step Guide

In 2025, Congress passed sweeping federal tax legislation that included the creation of an important new child savings program known as “Trump Accounts.” These accounts are designed to help all families begin saving early for a child’s future. One of the most attractive aspects is that they include a one-time federal contribution for eligible children, including adopted children.

What Is a Trump Account?

A Trump Account is a savings and investment account established for a child with tax advantages. The account is owned by the child and managed by a parent or other designated adult until the child reaches adulthood. Funds in the account grow tax-deferred and are invested in approved, low-cost investment options.

Under the new law, children born between January 1, 2025 and December 31, 2028 who meet all of the eligibility requirements may receive a one-time $1,000 contribution from the federal government once an account is opened.

Are all Children Eligible?

To open a Trump Account, a child must:

• Have a valid Social Security number
• Be under age 18 when the account is established

It’s important to note that eligibility is not based on whether a child is biological or adopted. Adopted children qualify under the same rules as any other child, provided they meet the age and Social Security requirements. Citizenship requirements do apply for the federal $1,000 contribution.

How Do I Open a Trump Account for My Baby?

Step 1: Confirm Eligibility

Before starting the account, confirm that the child has a valid Social Security number and is under age 18. Families expecting to qualify for the federal contribution should also confirm the child meets citizenship requirements, especially important if the child was adopted internationally.

Step 2: Complete IRS Form 4547

Opening a Trump Account requires filing IRS Form 4547, a special form titled Trump Account Election. This form establishes the account and, if applicable, requests the federal $1,000 contribution for the child.
Form 4547 may be submitted with a federal income tax return or through an online portal in the future. Most families can easily file the form with their 2025 tax return.

Step 3: Ensure the Proper Authorized Individual Files

The IRS requires that an “authorized individual” open the account. This is generally the child’s parent or legal guardian. In some cases, a grandparent or other close relative may establish the account if they meet IRS authorization requirements.
To request the federal contribution, the requestor generally must expect to claim the child as a dependent on their tax return.

Step 4: Follow Treasury Instructions to Activate the Account

After Form 4547 is filed, the IRS and U.S. Treasury will provide instructions for activating the account. This process may include identity verification and selection of approved investment options.

Step 5: Fund the Account

Trump Accounts are scheduled to accept contributions beginning in mid-2026. Once active, parents, relatives, employers, and others may contribute funds, subject to annual limits. The federal $1,000 contribution does not count toward the annual contribution cap.

What Happens After the Account Is Opened?

Funds in a Trump Account grow tax-deferred and remain under parental (or custodial) control until the child reaches adulthood. At that point, the child gains control of the account. There are rules that govern withdrawals similar to retirement-style accounts.

An Important Financial Foundation

At their core, Trump Accounts are intended to provide children with an early financial foundation that they can build upon. Trump Accounts can open doors for education, home ownership, or starting a business. Families interested in this program should consult a tax professional or review additional IRS guidance on Trump Accounts as more details are released.