Form 4547 and tax software: when you still need it after Treasury opened Trump accounts automatically, and what 5 tax programs say
Form 4547 is the IRS form for Trump account elections. The IRS changed what it is for on October 1, 2026: “Starting Oct. 1, 2026, the Secretary of the Treasury automatically enrolled eligible children in Trump Accounts.” As of October 31, 2026 (Eastern time):
- Opening an account: usually no form. The IRS: “If Treasury automatically opened an account for your child, you do not need to submit Form 4547 to open it.” You claim the account in the Trump Accounts app instead; see claiming your child's Trump account.
- The $1,000 still needs Form 4547. “You must elect the $1,000 contribution for your child, even if Treasury automatically opened the account.” “To request the contribution, submit Form 4547 and select the option for the $1,000 pilot program contribution.”
- You do not need a tax return to file it. “You can submit Form 4547 through the Trump Accounts app, the Trump Accounts website or your IRS Individual Account.” It can also go with an e-filed return or on paper, but not with an amended return.
- Tax software. TurboTax, TaxAct, H&R Block, FreeTaxUSA and Cash App Taxes all say on their own pages that you can file Form 4547 with your return. Only TurboTax's page has been updated for 2026 returns; the others were written for 2025 returns, mostly before the automatic accounts. The table quotes each one.
Do you need Form 4547?
| Your situation | Form 4547? | What the IRS says |
|---|---|---|
| Treasury opened your child's account automatically, and you only want to manage it | No | “An authorized individual can claim the account through the Trump Accounts app. Form 4547 is not required.” |
| Your child can get the $1,000 (see below) and you have not elected it yet | Yes, Part III | “You must elect the $1,000 contribution for your child, even if Treasury automatically opened the account.” |
| No account was opened for your child | Yes, to open one | The instructions: “If your child is not eligible for a pilot program contribution, the election to open an initial Trump account must still be made on Form 4547 or, beginning in the middle of 2026, online.” |
Who can get the $1,000. The IRS lists children who “Are U.S. citizens.” “Were born from Jan. 1, 2025, through Dec. 31, 2028.” and “Have valid Social Security numbers.” The instructions add that the child must not have “had a prior pilot program contribution election processed for them”, and that the person making the election must expect the child to be his or her qualifying child for that year. On timing: Treasury makes the deposit “as soon as practicable after the election is made” and once it can confirm the account is open.
The IRS's ways to file Form 4547
- Online, without a return: the Trump Accounts app, the Trump Accounts website or your IRS Individual Account (IRS page above).
- With an e-filed return: “The fastest, safest, and easiest way to make the election(s) is to file Form 4547 with your current-year e-filed tax return.”
- On paper: “If you must file your Form 4547 on paper, mail it to the address at IRS.gov/PaperReturns for your tax return for the year for which you are making the election.”
- Not with an amended return: “Do not attach Form 4547 to Form 1040-X. Do not amend Form 1040, 1040-SR, or 1040-NR to attach Form 4547.”
- Any time: “Form 4547 can be filed at any time, including at the same time as the income tax return is filed.”
Sources: IRS, Trump Accounts (reviewed October 21, 2026); IRS, Instructions for Form 4547; IRS, Form 4547 (PDF).
What five tax programs say
We read each program's own help pages and articles. All five say Form 4547 can go with a return you file through them. They differ in where the step is, which products have it, and how recently the page was updated.
| Program | What its own page says | Where in the program | Page date and notes | Pages read |
|---|---|---|---|---|
| Cash App Taxes | “Help your child benefit from a new government program—file IRS Form 4547 with your taxes.” It adds: “You can also mail a completed Form 4547 directly to the IRS.” | Not described on the page. | No date on the page. It still says next steps were “expected around May 2026”, so it was written before the automatic accounts. | Cash App, Trump accounts |
| FreeTaxUSA | “If you have an eligible dependent entered on your return, you can enter Trump Investment Account information for minors in the Misc section and send that information with your original (not amended) tax return.” | “Misc > Open an Investment Account > Open a Child Investment Account” | Help answer, no date. A FreeTaxUSA agent wrote on February 4, 2026 that for a child born in 2026 “our software cannot generate or file Form 4547 with your 2025 return”, and that “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”. | FreeTaxUSA, Where do I enter Trump Investment Accounts (Form 4547)?; FreeTaxUSA Community, Form 4547 for a child born in 2026 |
| H&R Block | “You can open a Trump Account for kids as part of completing your 2025 tax return with H&R Block Online, H&R Block Tax Software, or with an H&R Block tax pro.” | A step that refers to “Children’s Tax-Advantaged Account set up” | Article dated August 28, 2025, about 2025 returns; written before the automatic accounts. Read in a browser (its site refused our automated requests). | H&R Block, 530A Trump Accounts |
| TaxAct | “TaxAct can help you apply for a Trump Account using Form 4547 when you file your Form 1040 tax return with us”. The page also says “Form 4547 only available with select TaxAct products.” It does not say which products. | “Taxes & Miscellaneous” then “Trump Account (530A Account)”; in the older view, “Trump account enrollment” | Published May 29, 2026, about 2025 returns. | TaxAct, What is a Trump Account? |
| TurboTax | “Yes, TurboTax users can file IRS Form 4547 with their federal income tax return.” Its help article: “If you have an eligible dependent on your return, we'll ask if you’d like to sign up for a Trump Account.” | Asked during filing; the help article says “We recommend that you record the 5-digit Signature ID (also called Self Select PIN) as it will be used on Form 4547 when creating your Trump Account.” | Tax tip “Updated for Tax Year 2026 • October 2, 2026”; help article updated March 18, 2026. | TurboTax, Form 4547: How to Establish a Trump Account for Your Child; TurboTax, How do I set up a Trump Account in TurboTax? |
The catch: the child must be on that return
The tax programs offer Form 4547 for children on the return you are filing. FreeTaxUSA says this outright: its help answer starts with “If you have an eligible dependent entered on your return”, and its agent explained that a child born in 2026 cannot be added to a 2025 return. TurboTax's help article also begins with “If you have an eligible dependent on your return”. For a child born in 2026, the options are the IRS's online routes now, or a 2026 return filed in 2027.
Quick answers
Do I need Form 4547 if Treasury already opened my child's account?
Not to open it. You claim it in the Trump Accounts app. You do need Form 4547 to elect the $1,000 if your child qualifies and you have not elected it before.
Can I file Form 4547 without filing a tax return?
Yes. The IRS lists the Trump Accounts app, the Trump Accounts website and your IRS Individual Account. TurboTax's guide says the same: “You can either file Form 4547 along with an e-filed federal tax return, mail a paper copy of the form to the IRS, or submit an electronic version of the form through an IRS Online Account.”
Can I add Form 4547 to an amended return?
No. The instructions say not to attach it to Form 1040-X or amend a return to add it. Use one of the online routes instead.
Which tax software files Form 4547?
TurboTax, TaxAct, H&R Block, FreeTaxUSA and Cash App Taxes say they do. TaxAct says only “select TaxAct products” have it without naming them. Each requires the child to be on the return.
When does the $1,000 arrive?
After the election is processed and Treasury confirms the account is open. The IRS gives no fixed number of days. For deposits, family contributions and limits, see claiming your child's Trump account; for state tax, Trump accounts and state tax.
How we checked
- The rules come from the IRS's Trump Accounts page (reviewed October 21, 2026), the Instructions for Form 4547 and the form itself, read October 31, 2026.
- For each tax program we read its own help pages, articles or community answers from its staff. H&R Block's site refused automated requests, so we read its page in a browser. We did not use other websites' summaries.
- We did not file Form 4547 or open accounts in the programs; the steps are as the companies describe them.
What this page does not cover
- Prices of the tax programs, and which program to use. We report what each one publishes.
- Investing inside a Trump account, and moving it to another firm; see Trump account transfers.
Rechecks and changes
We will read these pages again when the tax programs for 2026 returns open in early 2027, and when the IRS updates its Trump account pages.
- . First published.
Sources: IRS, Trump Accounts (reviewed October 21, 2026); IRS, Instructions for Form 4547; IRS, Form 4547 (PDF); and each program's pages in the table. This page contains no affiliate links. It reports what the IRS and the companies publish. It is not tax advice.