The new program allows parents to set up savings for young children that can later be used similarly to a traditional IRA.

The IRS has released Form 4547, allowing parents to register eligible children for Trump Accounts when filing 2025 tax returns. Here's what you need to know.

・Trump Accounts (savings plans for children) will open in 2026 with a one-time $1,000 federal contribution for babies born from 2025 through 2028. ・Families must file IRS Form 4547 to establish the ...

Parents cannot depend on an automatic enrollment system to create a new Trump Account for their children. To qualify for the $1,000 pilot program contribution for a Trump Account, a child must be a ...