All articles tagged with #irs form 4547
The Trump Accounts pilot launched on July 4, depositing $1,000 into investment accounts for eligible toddlers born 2025–2028 to help them build wealth early and potentially bolster the stock market. Any child with a Social Security number under 18 could be eligible, but the pilot is currently limited to those born 2025–2028; signup involves IRS Form 4547.
The U.S. Treasury's Trump Accounts app launches to open 530A (child) investment accounts; eligible families can sign up now via IRS Form 4547, with a potential $1,000 Treasury seed for births 2025–2028. Funding starts July 4, and annual contributions can reach up to $5,000 per child (employer contributions up to $2,500) to be invested in broad U.S. equity index funds, with activation occurring in waves after identity verification.
Trump accounts have enrolled about 5 million children, with roughly 1.2 million eligible for a $1,000 Treasury seed contribution for babies born from 2025 to 2028. Accounts can be opened by filing IRS Form 4547 with the 2025 tax return or online at TrumpAccounts.gov, with the program launching on July 4. The initiative is funded by Treasury seed money and pledges from companies and philanthropists, and is being managed by BNY Mellon with a Robinhood app to teach kids about investing.