Opening a Trump Account doesn't take long. But there's a difference between when you apply and when the account actually opens. Here's what the full timeline looks like.
Step 1: Check Eligibility (2 Minutes)
Before you do anything, confirm your child qualifies. The quickest way is the 30-second quiz at investamericaquiz.com. It'll tell you if your child is eligible and whether they qualify for the $1,000 government seed.
The basic criteria: any U.S. child under 18 with a Social Security Number can open an account. The seed is only for children born between January 1, 2025 and December 31, 2028. For the full eligibility breakdown, see who qualifies for a Trump Account.
Step 2: File IRS Form 4547 (5-10 Minutes)
If you're going the form route, you'll file IRS Form 4547. It can go with any tax return or be filed on its own, at any time. The form itself isn't long. It asks for basic identifying information about your child, including their Social Security Number.
If you use tax software or work with a preparer, they can add Form 4547 to your return. You're not filling out a financial application here. You're just designating your child for the program through the IRS.
Download the form at IRS.gov.
Step 3: Activate the Account in the Trump Accounts App
Look for a setup email from the Treasury (it comes from no-reply@trumpaccounts.treasury.gov), then download the official Trump Accounts app at trumpaccounts.gov to activate and manage your child's account.
Once open, the government deposits the $1,000 seed for eligible children, and you can start making contributions. You don't have to do anything in the meantime.
Is There a Deadline?
You can start at any time. Submit the election in your IRS Online Account (about 5-10 minutes) or file Form 4547, then activate the account in the official Trump Accounts app once the Treasury emails you.
There's no deadline to worry about. The IRS says the election can be filed at any time, and the only real cutoff is December 31 of the year your child turns 17. For a full walkthrough of the options, see how to open a Trump Account.
Total Time From Start to Open Account
- Eligibility check: 2 minutes
- Filing Form 4547 with your taxes: 5-10 minutes
- Activating in the app after the Treasury's email: a few minutes
The active work on your end is minimal. Most of the waiting is government processing, not your application.
What About After the Account Opens?
Once the account is open, you can start contributing. The annual limit is $5,000 from all sources combined, including contributions from grandparents, other family members, and employers. There's no minimum contribution. You can put in $50/month or $5,000 in January. Flexibility is one of the program's better features.
To understand how those contributions could grow over 18 years, read how much your child's account can grow.
Find out if your child qualifies in 30 seconds at investamericaquiz.com.
Have more questions? Here's every question people are asking about Trump Accounts.
This post is for educational purposes only and is not tax, legal, or investment advice. Grifin is not affiliated with the U.S. government or the Invest America program.
