The program is live. Opening a Trump Account is a two-step process: make a free election with the IRS, then activate and manage the account in the official Trump Accounts app from trumpaccounts.gov. Here's how it works.
Step 1: Make the Form 4547 Election
To claim your child's account and the $1,000 government seed (if they qualify), a parent or guardian makes the Form 4547 election. Fastest: submit it in your IRS Online Account, about 5-10 minutes with an ID.me login. You'll need your child's Social Security Number, date of birth, and address.
You can also e-file the form with any tax return or mail the paper form. The IRS says the election can be filed at any time.
Download the form at IRS.gov. Your tax preparer can also include it if you're working with one.
Step 2: Activate in the Official Trump Accounts App
Once the IRS processes your election, the Treasury emails activation instructions from no-reply@trumpaccounts.treasury.gov. Download the official Trump Accounts app at trumpaccounts.gov, built for the Treasury by BNY and Robinhood, to activate the account, link a bank or debit card, and start contributing.
Children born before 2025 can get an account through the same election process, even though they don't qualify for the $1,000 seed. For a refresher on who qualifies for what, check the full eligibility breakdown.
Who Can Open the Account?
A parent, guardian, grandparent, or other authorized adult serves as the custodian of the account until the child turns 18. You manage contributions and oversee the account on the child's behalf.
The child must have a valid Social Security Number to open an account. If your newborn doesn't have one yet, you'll need that before you can apply.
What Happens After You Apply
Once the election is processed, the account is opened and the government deposits the $1,000 seed for eligible children. The money is invested in a low-cost U.S. equity index fund managed by the Treasury.
From there, you can start making contributions up to $5,000 per year from all sources combined. Family members, grandparents, and even employers can contribute.
You can also eventually roll the account into a participating financial institution once that option becomes available. Grifin will be offering a rollover option. Learn more at grifin.com/invest-america.
Should You Sign Up Now or Wait?
There's no deadline pushing you. The election can be filed at any time, and the only hard cutoff is December 31 of the year your child turns 17. But the sooner the account is open, the sooner the seed is invested and growing. Signing up now is the straightforward path.
If your child was born before 2025 and doesn't qualify for the seed, there's less urgency, but opening the account through either method still gives them access to a tax-deferred investment account with up to $5,000/year in contributions.
For a step-by-step walkthrough of the whole process, including what documents you'll need, see the full guide to opening a Trump Account.
Not sure if your child qualifies? Take the 30-second quiz at investamericaquiz.com.
Have more questions? Here's every question people are asking about Trump Accounts in one place.
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.
