How do I attach IRS Form 4547 (Trump Account Election) for child born in 2026?

personalrecords898
personalrecords898 Member Posts: 2 Newcomer
in Filing my taxes

I would like to fill out an IRS Form 4547 for a new dependent born in 2026 who is eligible for the pilot program contribution (part III - pilot program contribution election). Because I cannot add this dependent for the 2025 tax year, my only option is to file and e-file Form 4547 with my 2025 tax return. How do I do this?

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  • JohnV
    JohnV FreeTaxUSA Agent Posts: 25 image
    edited February 1

    Since the child was born in 2026, the child cannot be added to the 2025 tax return and file Form 4547 with the 2025 tax return. However, this is not your only option to sign up for the Trump account to get the $1,000 federal pilot program contribution.

    You can sign up your child for the Trump account and the pilot program contribution here: https://trumpaccounts.gov/

    The website will be launched on July 5, 2026. Please go to the website to sign up later this summer.

  • My3sons
    My3sons Member Posts: 1 Newcomer

    I would like to fill out form 4547 for my teenage son, but can not seem to find that option while filling out my taxes

  • kiarab
    kiarab FreeTaxUSA Agent Posts: 223 image
    Hello My3sons,

    If your son is eligible, you should be able to go here: Misc > Open an Investment Account > Open a Child Investment Account

    And like JohnV mentioned, you should also be able to go the the Trump Account website to set up an account for your children, not just your newborn child. It will become available in July.
  • personalrecords898
    personalrecords898 Member Posts: 2 Newcomer

    Thanks, everyone.

    I understand that I need to sign up my 2026 born child at https://trumpaccounts.gov/ after July 6 2026. However, the IRS (https://www.irs.gov/pub/irs-pdf/i4547.pdf) says I can fill out and attach Form 4547 with my 2025 tax return to enroll my 2026 son as well. This is easier as Section III in Form 4547 allows me to separately enroll my 2026 born son into the Pilot Program Contribution.

    My question was specifically about how I can separately fill out this form and attach this PDF separately in my return. Not do it under "Misc > Open an Investment Account > Open a Child Investment Account".

    It doesn't sound like FreeTaxUSA has this ability.

  • Taylor
    Taylor FreeTaxUSA Agent Posts: 44 image
    Hello Personalrecords898,

    Thank you for reaching out, and congratulations on the birth of your child!

    Since your child was born in 2026 and you're filing a 2025 tax return, you won't be able to add them as a dependent for the 2025 tax year. Because of this, our software cannot generate or file Form 4547 with your 2025 return, the form is tied to eligible dependents claimed on the return for that specific tax year.

    You can choose to print the tax return in our software. If that is the method you choose then you can include a printed 4547 form filled out from the IRS website.

    Signing up directly at TrumpAccounts.gov is also an option. This should become available in summer 2026, allowing you to enroll your child in the pilot program without waiting to file your 2026 tax return.

    Or, when you file your 2026 tax return (in early 2027), you'll be able to claim your child as a dependent and file Form 4547 through our software at that time.

    The software requires the dependent to be eligible for the tax year of the return being filed.
  • Columbus
    Columbus Member Posts: 1 Newcomer

    Hi just confirming, if my baby was born in October 2025, I can file Form 4547 in Misc > Open an Investment Account > Open a Child Investment Account? Thank you.

  • RyanV
    RyanV FreeTaxUSA Admin Posts: 40 image

    Hi @Columbus

    That is correct. On the IRS website it says "The account features a pilot program contribution of $1,000 for children born between Jan. 1, 2025, and Dec. 31, 2028, and who are U.S. citizens with a valid Social Security number."

    If you run into any problems feel free to contact customer support once you are logged into your account and they can help you!

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