Treasury and IRS are working quickly!  Notice 2025-68 referenced pending Form 4547 that can be used to open a Trump account for eligible children, and for requesting the $1,000 pilot contribution for newborns.  A draft form and instructions are already available for our viewing pleasure.   The draft form has four parts (summarized below), and actually looks rather manageable, as tax forms go.  

• Part I: Parent/Guardian or Other Authorized Individual Information (contact information)
• Part II: Child’s Information (name, address, SSN, relationship)
• Part III: Pilot Program Contribution Election ($1,000 for 2025-2028 newborns with SSN)
• Part IV: Consent to Disclose Information (regarding the establishment of the account)

The draft instructions provide a summary of the various rules for these accounts, including the types of contributions and limits, distribution restrictions, and investment restrictions.  

Stay tuned for the final Form 4547, and upcoming website access via trumpaccounts.gov that can be used instead of the form.

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