The US Department of the Treasury and the Internal Revenue Service (IRS) have issued proposed regulations explaining how the government will contribute $1,000 to new “Trump Accounts,” a savings program created for children under the Working Families Tax Cuts law passed on July 4, 2025.
The proposed rules, released on March 6, explain how the Treasury Department will deposit a one-time $1,000 contribution into Trump Accounts opened for eligible children. These accounts are a new type of traditional individual retirement account (IRA) for minors. The accounts belong to the child but are managed by an adult, usually a parent or guardian.
According to the IRS, the regulations are meant to help individuals who want to apply for the government’s $1,000 pilot program contribution for eligible children.
$1,000 pilot program contribution
Under the contribution pilot program, the Treasury Department will deposit a one-time $1,000 contribution into Trump Accounts for children whose parents or guardians submit an election for the program.
The proposed regulations also explain the impact of making this election and outline the requirements that must be met for the contribution to be made.
The IRS said the rules will assist individuals who plan to file elections for eligible children. To receive the $1,000 contribution, an election must be filed by an individual who expects the child to qualify as their dependent during the tax year in which the election is made. In most cases, this will be a parent or guardian.
Parents who want to participate in the program may therefore need to submit the election during the tax year in which the child is born.
Eligibility requirements
For a child to receive the $1,000 pilot program contribution, the parent or other eligible individual must first establish a Trump Account for the child and then file the election.
The child must meet several requirements. The eligible child must be born in calendar year 2025, 2026, 2027, or 2028. The child must also be a United States citizen and must have been issued a Social Security number. In addition, the contribution can only be made if no previous pilot program election has already been submitted and processed for the child.
Who can file the election
The IRS refers to the person filing the election as the “pilot program-electing individual.” Generally, this will be the parent or guardian who expects the child to be their qualifying child during the year in which the election is filed.
New IRS form introduced
To participate in the program, families will need to submit Form 4547, Trump Account Election(s). The form will be used both to establish a Trump Account and to elect for the child to receive the $1,000 pilot program contribution.
Trump Accounts are scheduled to officially launch on July 4, 2026. The IRS said it will continue to provide updates and additional information related to tax benefits created under the Working Families Tax Cuts law on IRS.gov.