If it's not available now, I doubt that it will be available for 2025 returns, especially since the accounts won't be funded by the Treasury until July 2026 and additional steps are needed to verify eligibility before then. The form instructions do state,
Making the election electronically. The fastest, safest, and easiest way to make the election(s) is to file Form 4547 with your current-year e-filed tax return. If you need to make an election due to a qualifying event (for example, the birth of a child who is eligible for a Trump account) after you have filed your tax return or for information on whether you can make these elections online, go to trumpaccounts.gov .
Financial institutions can't open the accounts until Treasury has approved them. So, it's not like anything is going to happen until July. I would advise parents of children born in 2025 to file a paper 4547 now, hoping that they will be processed FIFO by Treasury. (On the other hand, do you want to buy the stock market before or after the November election?) For example, here is what Fidelity Investments tells customers:
Opening a Trump Account starts with an election process through the IRS—either by filing Form 4547 or using the upcoming online tool at trumpaccounts.gov. Elections are scheduled for mid-2026, with accounts becoming available July 5, 2026. Once the election is complete, the Treasury will provide instructions to activate the account. The IRS is expected to issue more guidance for rollover accounts at financial institutions, which can only be opened after the initial Treasury account exists. These details will be clarified as the program expands.
About 3 million eligible babies are born every year. A lot of work to catch up, for 2025. For 2026, most will be born after their parents have filed tax returns. So, should they wait as much as a year to electronically file the 4547? Probably not, if the promised "upcoming online tool" becomes available.
It's free money, but will tax preparers prepare and sign Form 4547 for free?
