Treasury Auto-Opened Trump Accounts for Eligible Kids, but Parents Still Must File Form 4547 to Claim the $1,000 Deposit for Babies Born 2025 Through 2028

A new parent sorting through hospital bills, insurance cards and a baby’s first Social Security card now has one more federal form to keep in mind. Treasury began opening Trump Accounts automatically for eligible children on Oct. 1, 2026, but the $1,000 government deposit for babies born from 2025 through 2028 does not arrive on its own. A parent still has to request it by filing Form 4547.

The IRS Trump Accounts page, last updated Oct. 21, 2026, spells out the gap: the $1,000 contribution must be elected by a parent even when Treasury has already opened the child’s account.

Which Children Treasury Enrolled

According to the IRS, “Starting Oct. 1, 2026, the Secretary of the Treasury automatically enrolled eligible children in Trump Accounts.” To be eligible for an account, a child must have a valid Social Security number and must not turn 18 before the end of the calendar year in which the account is set up.

The scale is large. The College Investor, citing temporary Treasury rules published in the Federal Register on Sept. 30, reported an estimated 73.37 million eligible children as of July 30, 2026, in about 44 million families. The same report said only about 5.6 million electronic Forms 4547 had been processed by that date, under 8% of eligible children.

For parents of an auto-enrolled child, the IRS says no Form 4547 is needed simply to open the account. The account still has to be claimed and activated before a parent can manage it.

The $1,000 Deposit Requires a Separate Election

The one-time $1,000 contribution is limited to a narrower group. The IRS says it is available to U.S. citizen children born from Jan. 1, 2025, through Dec. 31, 2028, who have a valid Social Security number. The Instructions for Form 4547 add that the Social Security number must be issued before the election is made, that the child must be expected to be the filer’s qualifying child for that tax year, and that no earlier pilot election can have been processed for the child.

The College Investor reported that the law does not let Treasury make that election on a family’s behalf, which is why an account opened automatically can sit without the $1,000 until a parent acts.

The IRS lists three ways to submit Form 4547 online: the official Trump Accounts app, the Trump Accounts website, or an IRS Individual Online Account. The form instructions also allow it to be filed with an income tax return, which the IRS describes as the fastest option, or on paper. The instructions warn not to file an amended return just to add the form.

Families who already elected the contribution do not need to file again, according to the IRS Trump Accounts FAQ. Parents of children who may qualify could receive a letter from Treasury, and those whose election needs more work may get Notice CP318, which explains how to complete or correct it.

Claiming an Account Treasury Already Opened

The Trump Accounts Help Center says the responsible adult must claim a Treasury-opened account through the app, the web portal or the IRS website, a step that requires ID.me identity verification. Only one account can be claimed per child, and the first eligible adult to claim it becomes the responsible party. Activation emails come from [email protected], and a newborn needs a Social Security number before the account can be claimed.

The IRS FAQ notes that the Bank of New York Mellon serves as Treasury’s financial agent for the program, and Robinhood Securities LLC is the brokerage provider and initial trustee.

Contribution Limits and Investment Rules

The program’s official site, trumpaccounts.gov, says parents can add up to $5,000 per year for each child and act as the sole custodian until the child turns 18. The Help Center adds that employers can contribute up to $2,500 per employee per year, which counts toward the $5,000 cap. The $1,000 Treasury deposit does not count against that limit.

Contributions are invested in an index fund that tracks the S&P 500, with an expense ratio capped at 0.1%, according to the Help Center. The money generally stays invested until the child turns 18, when the account becomes a traditional IRA. Withdrawals for certain expenses, such as higher education or up to $10,000 toward a first home, are subject to income tax but not the extra 10% early-distribution tax. The Help Center also notes that the investments are not backed by the federal government and carry market risk, so account values can fall as well as rise.

The window for adding money closes before adulthood. The Help Center says contributions cannot be made after Dec. 31 of the year a child turns 17, which means a teenager who turns 17 in 2026 has only the rest of this year for family contributions to go in, while a 2025 baby has nearly 17 years of possible deposits ahead.

Private donors have pledged money for some accounts. The College Investor reported that the Michael & Susan Dell Foundation pledged $6.25 billion for children born from 2016 through 2024 in ZIP codes with median household income below $150,000. Another high-profile pledge tied to the accounts is covered in Elon Musk’s SpaceX share pledge.

For families with a baby born in 2025 or 2026, the practical checklist is short: confirm the child has a Social Security number, claim the account Treasury opened, and file Form 4547 to request the $1,000. The IRS lists a help line at 866-USA-4547 for questions about claiming an account or changing information after it has been claimed.

Get stories like this by email. Sign up for The Parent Diaries Letter.

This article was produced with AI assistance and edited for accuracy against the sources linked above.

Image: Martin Falbisoner – CC BY-SA 4.0/Wikimedia Commons