At the end of May 2026, the IRS released IR-2026-68, which provided instructions on how to view and submit Trump Account elections, making it easier for families to get started with these tax-advantaged accounts. Created under the One Big Beautiful Bill and governed by IRC § 530A, Trump Accounts allow parents, guardians, and other authorized individuals to establish a new type of tax-deferred investment account for their children — intended to help build long-term savings for college, retirement, and generational wealth.

Here is exactly how to get your child’s Trump Account set up.

Step 1: Complete and Submit Form 4547 (Trump Account Election)

There are two ways to file Form 4547, Trump Account Election(s):

a. With your 2025 tax return — You could have transmitted this form alongside your 2025 Form 1040, if your return was filed recently.

b. Directly through the IRS website (Recommended) — Visit irs.gov/trumpaccounts, sign in to your IRS Individual Account, and submit the form electronically. Electronic submission improves accuracy, speeds up processing, and gives you real-time visibility into the status of your election. Once signed in, you will move through four sections:

i. Your information — Most fields are pre-populated from your IRS account. Review carefully and confirm everything is accurate.

ii. Child information — Enter the child’s first and last name, Social Security number, date of birth, and your relationship to the child (parent, guardian, or other authorized individual). Multiple children can be added at this stage. The date of birth field is also how the system identifies whether your child qualifies for the pilot program contribution (more on that below).

iii. Review section — Verify all information, provide your consent, and authorize the form to be filed.

iv. Confirmation section — Save or print this page. This is your proof of submission. On the first submission attempt, some users encountered a processing error without receiving a visible confirmation — do not skip this step.

 

Step 2: Download the Trump Accounts App

Once your Form 4547 has been confirmed, download the app from the Apple App Store or Google Play. At the time of this post, this app is one of the most downloaded (#4 in Finance) in the app store – Trump Accounts: Official App

a. Sign in using an email address and confirm it with a verification code sent to that email. You will then create a password.

b. Provide your phone number and confirm it with a code sent via text message.

c. Allow push notifications when prompted.

d. At this stage, the app will inform you that Trump Accounts are being rolled out in waves and that you will receive an invitation over the coming weeks. The app will prompt you to confirm that Form 4547 has been submitted (Step 1 above) so that you are ready when your activation email arrives.

 

Step 3: Email Received and Account Setup Experience (Update 6/17/26)

On June 17, 2026, I received an activation email with the subject line “Welcome to Trump Accounts.” This is the official invitation referenced in Step 2 and confirms that your account is ready to be fully set up.

After clicking the link, I was redirected to the official website (trumpaccount.com), where I logged in and completed a verification process. The system required me to confirm the following:

  • My first and last name

  • My Social Security number (which must match the information submitted on Form 4547)

Once verified, the platform displayed all children associated with my previously submitted Form 4547. At this stage, I had the option to deselect any child if I chose not to proceed with opening an account for them.

For each selected child, I then confirmed:

  • Date of birth

  • Social Security number

After completing this step, the system finalized the account setup and confirmed an important milestone: Contributions will officially open on July 4, 2026.

One standout feature of the platform is the built-in projection tool labeled “Estimate Future Balance.” This tool allows you to model potential account growth based on contribution levels and the child’s age. It provides a clear visual of how consistent investing over time can compound into a meaningful balance.

From a planning perspective, this feature may be one of the most effective elements of the entire program. It helps translate what might feel like small, periodic contributions into long-term financial impact — a useful motivator for families considering whether to fully utilize these accounts.

Step 4: System is up and running – Time to contribute (Update 7/8/26)

On July 4, 2026, I received an  email with the subject line “You can now contribute to your child’s Trump Account”.

Then, a few days later 7/7/26, I logged in the website (to log in you will have to verify either in the app or via text message). At that point, you select one of your children accounts, and click on contribute. To contribute, you can select the amount and then the 1) debit card which is an instant transfer or 2) bank account which typically takes 4 to 5 business days. Also, it allows to select the frequency of these contributions in case you want make monthly contributions

On 7/8/26 (date of this update), I got the confirmation that the funds were invested in the State Street SPDR portfolio (this is the default investment account and only five investment accounts are available at this time – SPYM, IVV, VTI, SPTM and ITOT).

 

Mark Your Calendar: July 4, 2026 — Contributions Open

July 4, 2026 is the date the contribution window officially opens. No contributions to a Trump Account can be made before that date — and the steps above do not result in any funds being deposited. What these steps accomplish is getting the account election on file so that the account is established, eligible, and ready to receive contributions the moment the window opens.

Beginning July 4, 2026, the following parties may contribute to a child’s Trump Account, subject to annual limits:

  • Parents and guardians

  • Family members

  • Employers

  • Charitable organizations and other eligible contributors

The federal government’s $1,000 pilot program contribution (described below) is also scheduled to be deposited on July 4, 2026 — not before. Completing the steps above now is what ensures the account is in place and eligible to receive that deposit when the date arrives.

 

A Note for Tax Professionals and Long-Term Planners

Trump Accounts are established under IRC § 530A and are structured similarly to traditional IRAs, but with distinct rules governing contributions, eligible investments, distributions, and reporting requirements. They are not straightforward traditional IRAs — they occupy their own category with their own compliance obligations. This information was posted back in December 2025 in our post How the New Trump Account Works: A Parent’s Guide to Tax-Smart Investing for Children

Conversion at age 18: On January 1 of the year the child turns 18, the Trump Account automatically converts to a traditional IRA. From that point forward, standard IRA rules apply — contribution limits, required minimum distributions, distribution taxation, and all associated reporting.

The basis tracking challenge: This is where the professional concern lies. The $1,000 federal pilot contribution, along with any subsequent contributions made from non-deductible (after-tax) sources, creates a basis in the account that must be carefully documented from the very beginning. When distributions are eventually taken — potentially 50 to 60 years from now — the IRS will need to determine what portion is taxable income and what portion is a return of basis. If that documentation does not exist or is incomplete decades down the line, the taxpayer (or their heirs) could face an unnecessarily large tax bill on amounts that should have been partially or fully tax-free. We are tracking this issue closely and will be advising clients on proper basis documentation as the rules are clarified.

Scam warning: Treasury has issued a specific caution to parents and guardians. Activation instructions will be sent only by email from no-reply@TrumpAccounts.Treasury.gov. Treasury will not contact anyone by phone or text message. If you receive a call or text claiming to be from Treasury about your child’s Trump Account, treat it as a scam and do not engage. Follow only the instructions in the official activation email, and verify the sender address before taking any action.

 

 

Thomson Reuters – Trump Account App Released Ahead of Initial Contribution Date