IRS Form 4547 is the official tax form for the Invest America Account program, also known as Trump Accounts. It's how parents establish their child's eligibility for the $1,000 government seed contribution.
Here's everything you need to know.
What Does Form 4547 Do?
Form 4547 tells the IRS that you want to open a Trump Account for your child and claim the government seed contribution. Per the IRS instructions, it can be filed with any income tax return or on its own, at any time.
Filing the form makes the election. Once the IRS processes it, the account is established and the $1,000 seed is deposited for eligible children.
Who Needs to File It?
If your child was born between January 1, 2025 and December 31, 2028, Form 4547 is how you claim the $1,000 government seed. The fastest way to file it is your IRS Online Account. The seed only goes to children born in that window.
If your child was born before 2025 or after 2028, the same election process still gets them a Trump Account. They just won't receive the government seed.
When Is It Due?
There's no deadline. The IRS instructions say the election can be filed at any time, including at the same time as your income tax return. The only real cutoff is December 31 of the calendar year your child turns 17.
If you're on extension, that's fine too. The form can go with your return whenever you file, or on its own.
How Do You File It?
Download IRS Form 4547 here. File it with any federal tax return, or on its own.
The form collects basic information about your child: name, date of birth, Social Security Number. The IRS uses this to verify eligibility for the seed contribution.
For a step-by-step walkthrough of the full process, see our guide to opening a Trump Account.
What Happens After You File?
After you file, the IRS processes the form and establishes your child's eligibility. Now that accounts are open, the $1,000 is deposited and invested in a low-cost S&P 500 index fund. From there, it compounds over time.
See what the $1,000 could grow into based on projected growth estimates.
What Is Grifin's Role?
Grifin is not affiliated with the government program. We're a private investing app that helps families understand Invest America. For official guidance, go to irs.gov or trumpaccounts.gov.
For more on how Trump Accounts work and who qualifies, check the Invest America landing page.
Find out in 30 seconds if your child qualifies 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.
