The US Department of the Treasury and the IRS have announced proposed rules for the new Trump Account pilot program. According to the IRS, these rules explain how eligible children’s accounts will receive a one-time $1,000 government contribution.  

Trump Accounts, created under the Working Families Tax Cuts enacted on July 4, 2025, are a new type of traditional individual retirement account designed for minors. The proposed regulations clarify how families can elect to participate in the pilot program and receive the initial Treasury contribution. Under the program, the Treasury Department will deposit $1,000 into a Trump Account established for an eligible child once the required election has been made.  

In most cases, parents or guardians who expect a child to be their dependent for the year will make this election. 

To qualify for the pilot contribution, a child must be born between 2025 and 2028, be a US citizen, and have a Social Security number. The child also needs a Trump Account, and no one can have made a previous pilot program election for them. 

The IRS has also introduced Form 4547, Trump Account Election(s). Taxpayers will use this form to open the account and request the contribution. Treasury officials said these proposed rules are meant to help families understand how to get started with the program.