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The IRS recently announced new features in its IRS Individual Accounts website that allow taxpayers to view and submit Trump account elections.
Trump accounts are a new type of tax-advantaged savings account for children introduced under the tax legislation known as the One Big Beautiful Bill Act. Trump accounts can now be established, and a pilot program will apply to each qualifying child born in 2025–28, but no contributions can be made until July 4, 2026.
These new accounts will function like traditional individual retirement accounts (IRAs) for eligible minors and are generally subject to an aggregate annual contribution limit of $5,000 (subject to a cost-of-living adjustment after 2027). In addition, each qualifying child born after Dec. 31, 2024, and before Jan. 1, 2029, is eligible to receive a one-time $1,000 federal contribution to a Trump account, which will not count against the aggregate annual limit.
Through IRS Individual Account, taxpayers can securely access their tax information and complete common tasks online, including:
- View the latest submission status of their Form 4547, Trump Account Election(s) (PDF - 78.11KB), including next steps
- Submit Form 4547, Trump Account Election(s), electronically
The IRS on Dec. 3, 2025, published Notice 2025-68, providing the first guidance on Trump Accounts. Notice 2025-68 outlines how the accounts will operate and how they differ from traditional IRAs. This initial guidance was followed by two sets of proposed regulations on Trump accounts published on March 6. The regulations are proposed to apply to taxable years beginning on or after Jan. 1, 2026.
The announcement also notes that additional information on Trump Accounts can be obtained online at Trumpaccounts.gov.
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