Trump Accounts: Treasury Has Already Opened Them, but You Must Claim and Activate to Get $1,000

The Treasury has automatically opened Trump Accounts for millions of children, but parents must claim and activate them to manage the accounts and request the one-time $1,000 government contribution if their child qualifies. According to the IRS (release IR-2026-129, dated October 29, 2026), nearly 70 million Trump Accounts have been opened, with 27 million already receiving funds from families, friends, donors, and the government.

Why it matters: having the account open is not enough. Trump Accounts are a new type of individual retirement account (IRA) for children, created by the Working Families Tax Cuts law. Since October 1, 2026, the Treasury has automatically enrolled eligible children: if this is your case, you don’t need Form 4547 to open the account, but the $1,000 contribution won’t arrive on its own.

Who Receives the $1,000

To have an account, the child must have a valid Social Security number and not turn 18 before the end of the year in which the account is opened. You don’t need to qualify for the $1,000 to have the account.

The one-time $1,000 contribution is for U.S. citizen children born between January 1, 2025, and December 31, 2028, with a valid Social Security number. To request it, submit Form 4547 (Trump Account Election(s)) and check the box for the $1,000 pilot program contribution. You can do this on the Trump Accounts app or website, or on your IRS Online Account. If you’ve already requested it, you don’t need to do it again.

How to Claim the Account

Download the Trump Accounts app (from the Apple App Store or Google Play) or visit trumpaccounts.gov. Verify your identity and authority to manage the child’s account, and complete the steps to claim and activate it.

Have your name and identification information, the child’s legal name, Social Security number, and birthdate ready. The information must match Social Security Administration records to avoid delays.

If You Receive an IRS Notice or a Treasury Letter

You may receive IRS notice CP318 if a step is missing or a correction is needed. Follow the notice’s instructions. IRS agents cannot correct the election over the phone, and you should not submit Form 1040-X to correct the 4547. You may also receive a letter from the Treasury Department if your child might qualify for the $1,000. Form 4547 is an official and legitimate IRS form.

What You Can Do

• Claim and activate the account, and if your child meets the requirements, request the $1,000 contribution with Form 4547, unless you’ve already done so.
• If you want to contribute, remember that parents, relatives, and employers can do so, with an annual limit of $5,000 (employers, up to $2,500 within that limit). The $1,000 pilot program contribution does not count toward that limit.
• For help, visit the Trump Accounts Help Center or call 866-USA-4547.

Sources: IRS, Trump Accounts; IRS, frequently asked questions; IRS, release IR-2026-129; IRS, Form 4547 instructions. Data consulted on November 2, 2026.