Congratulations on your new addition! If you welcomed a baby in 2025 (or are expecting one soon), there's exciting news on the tax front. The federal government has introduced a brand-new savings program designed to give your child a financial head start: and it comes with a free $1,000 deposit courtesy of the U.S. Treasury.
It's called the Trump Account (sometimes referred to as the "Baby IRA"), and claiming it requires filing the new IRS Form 4547. In this guide, we'll break down exactly what this benefit is, who qualifies, how to claim it step by step, and the deadlines you need to know. Let's make sure your family doesn't miss out!
What Is the Trump Account (Baby IRA)?
The Trump Account is a special savings account created for children born between January 1, 2025, and December 31, 2028. Think of it as a government-funded nest egg to help your child build wealth from day one.
Here's the big perk: The U.S. Treasury will deposit $1,000 into your child's account as part of a pilot program: completely free to eligible families. This isn't a loan or an advance on future credits. It's a one-time seed deposit to jumpstart your child's savings.
The account is established through IRS Form 4547, which was released in December 2025. For more details straight from the source, the IRS directs families to trumpaccounts.gov.
Who Is Eligible for the $1,000 Pilot Program Contribution?
Not every child qualifies for the Treasury's $1,000 deposit. Here's the checklist your child must meet:
Child Eligibility Requirements
- Born after December 31, 2024, and before January 1, 2029 (calendar years 2025–2028)
- U.S. citizen
- Has a valid Social Security Number (SSN)
- No prior pilot program contribution has been processed for this child
- Expected to be a qualifying child of the authorized individual making the election
If your baby checks all these boxes, you're in the clear to claim the benefit!
Who Can Open the Account?
The IRS refers to the person opening the account as the "authorized individual." This person becomes the responsible party for managing the Trump Account. The following people can serve as the authorized individual (in order of priority):
- Legal guardian
- Parent
- Adult sibling
- Grandparent
In most cases, a parent will be the one filing Form 4547 and managing the account.
Step-by-Step: How to Claim the $1,000 Trump Account Deposit
Ready to get started? Here's exactly how to claim your child's Trump Account and request the $1,000 pilot program contribution.
Step 1: Gather Your Information
Before you file, make sure you have the following ready:
For the Authorized Individual (You):
- Full legal name
- Social Security Number
- Date of birth
- Current home address
- Contact information (phone and/or email)
For Each Eligible Child:
- Full legal name
- Social Security Number
- Date of birth
- Relationship to you
- Home address (if different from yours)
Step 2: Complete IRS Form 4547
Form 4547 is the official form used to establish a Trump Account and request the $1,000 Treasury deposit. You'll provide all the information listed above and sign the form to authorize the IRS and Treasury to set up and maintain the account.
Step 3: Choose How to File
You have two options for submitting Form 4547:
Option A: E-File with Your Tax Return
If you're filing your 2025 federal income tax return, you can e-file Form 4547 along with your completed Form 1040. This is the simplest option for most families filing during tax season.
Option B: Use the Online Portal
An online portal is expected to launch by summer 2026, allowing you to file Form 4547 separately after your tax return has already been submitted. This is helpful if you miss the initial filing window or prefer to handle it outside of tax season.
Step 4: Confirm and Track Your Account
Once your Form 4547 is processed, the IRS and Treasury will establish your child's Trump Account and deposit the $1,000 contribution. Keep an eye on any correspondence from the IRS and check trumpaccounts.gov for updates on your account status.
Key Deadlines You Need to Know
Timing matters! Here are the critical dates to keep on your radar:
| Milestone | Date |
|---|---|
| Form 4547 released | December 2025 |
| E-file with 2025 tax return | January–April 2026 (standard tax season) |
| Online portal expected | Summer 2026 |
| Eligible birth years | 2025–2028 |
Pro tip: Don't procrastinate! Filing early ensures your child's account is established promptly and the $1,000 deposit hits their account sooner rather than later.
Don't Forget: Other Child-Related Tax Credits for 2025/2026
The Trump Account isn't the only benefit available to new parents. Make sure you're also claiming these valuable credits on your tax return:
Child Tax Credit (CTC)
The Child Tax Credit remains one of the most valuable credits for families. For tax years 2025 and 2026, eligible families can claim a credit for each qualifying child under age 17. The exact amount depends on your income and filing status, but it can significantly reduce your tax bill: or boost your refund.
Earned Income Tax Credit (EITC)
If you have earned income and meet certain thresholds, you may qualify for the EITC. This credit is especially valuable for low- to moderate-income families and increases with the number of qualifying children in your household.
Child and Dependent Care Credit
Paying for daycare, preschool, or a babysitter so you can work? You may be able to claim a credit for a portion of those expenses. This credit helps offset the cost of childcare for children under age 13.
Adoption Credit
If you adopted a child in 2025 or 2026, you may be eligible for the Adoption Credit, which helps cover qualified adoption expenses.
Bottom line: New parents have access to multiple tax benefits. Don't leave money on the table: make sure you're claiming everything you're entitled to.
Quick Checklist: Claiming Your Baby's Trump Account
Here's a handy summary to keep you on track:
- Confirm your child was born between January 1, 2025, and December 31, 2028
- Verify your child is a U.S. citizen with a valid SSN
- Gather your personal information and your child's details
- Complete IRS Form 4547
- E-file with your 2025 tax return OR use the online portal (summer 2026)
- Monitor your account status at trumpaccounts.gov
- Claim all other eligible child tax credits on your return
Need Help? Brick Taxes Has Your Back
Navigating new tax forms and benefits can feel overwhelming: especially when you're juggling life with a newborn. That's where we come in.
At Brick Taxes LLC, we specialize in helping families maximize their tax benefits and file with confidence. Whether you need help completing Form 4547, claiming the Child Tax Credit, or just want a pro to handle everything for you, our team is ready to assist.
Don't let confusion cost you $1,000 (or more). Contact Brick Taxes today to schedule your appointment and make sure your growing family gets every dollar you deserve.
Have questions about the Trump Account or other 2025/2026 tax changes? Check out our Tax Blog for more tips, or explore our full range of tax preparation services. We're here to help: remote or in-person, whatever works best for you!
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