WASHINGTON, D.C. — The Internal Revenue Service has added online enrollment and tracking capabilities for Trump Accounts, a new tax-advantaged savings vehicle created under the One, Big, Beautiful Bill, potentially reducing administrative barriers for families seeking access to the program’s government-backed contributions and long-term investment benefits.
The agency said taxpayers can now electronically submit Form 4547, the Trump Account Election form, through their IRS Individual Account and monitor the status of their submissions online.
The changes expand the IRS’s growing portfolio of digital self-service tools and come as the agency prepares to administer a new savings program established by legislation signed into law on July 4, 2025.
Trump Accounts allow parents, guardians and other authorized individuals to establish a specialized retirement-style account for children under age 18. Eligible children must have a valid Social Security number and must not have reached their 18th birthday by the end of the calendar year in which the election is made.
The IRS stated that the new online features provide real-time status updates for submitted elections and eliminate the need to file paper forms, a move intended to reduce processing delays and administrative errors.
A key component of the program is a one-time $1,000 federal contribution available through a Treasury Department pilot initiative. The contribution is available for eligible U.S. citizen children born between January 1, 2025, and December 31, 2028, provided they have a valid Social Security number.
The availability of electronic filing may accelerate participation in the program by allowing families to complete enrollment and monitor processing through the same online portal used to access tax records and account information.
IRS Chief Executive Officer Frank J. Bisignano noted the additions are part of the agency’s broader effort to expand digital services while supporting implementation of the new accounts.
“These new features reflect our continued focus on transforming the IRS into a digital-first agency that delivers a faster, more seamless experience for taxpayers,” Bisignano said.
The IRS said taxpayers can use their IRS Individual Account to view filing statuses, manage tax account information and complete a growing number of administrative actions online.
Additional information about tax provisions contained in the One, Big, Beautiful Bill is available on IRS.gov. Information specific to Trump Accounts is available at TrumpAccounts.gov.
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