IRS has added new features to its Individual Accounts that let taxpayers view the status of and electronically submit Form 4547, the Trump Account election form. Through the Individual Account portal, users can see the latest submission status of their Trump Account election and complete the form online. The update is part of the agency’s digital‑first initiative to streamline tax‑related tasks. Trump Accounts were created by the One, Big, Beautiful Bill, signed into law on July 4 2025. They allow parents, guardians and other authorized persons to open a new retirement‑style account for children under 18 who have a valid Social Security number. A one‑time $1,000 Treasury pilot contribution is available for eligible children born between Jan 1 2025 and Dec 31 2028. For more details, taxpayers can visit trumpaccounts.gov.
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