Trump Accounts What Now Federal Tax Update

Program Number-

Trump Accounts What Now Federal Tax Update

1 Hour CE Federal Tax Webinar

Speaker:  TBA

September 10, 2026, Noon-1 p.m.

Program Description

The One Big Beautiful Bill Act created a new category of tax-advantaged account for children — commonly known as a Trump Account — and the IRS has introduced Form 4547, Trump Account Election(s), as the mechanism for opening an initial account and electing the one-time federal pilot contribution. This program gives tax and accounting professionals a working command of these new rules so they can advise clients accurately during the 2026 filing season and beyond.

Participants will learn what a Trump Account is and how it functions as a form of traditional individual retirement account established for the exclusive benefit of an eligible child. The program walks through eligibility requirements, the $1,000 government pilot contribution for qualifying children, annual contribution limits and sources, the tax treatment of contributions and distributions, and the priority order of authorized individuals who may open an account. Substantial attention is devoted to the mechanics of Form 4547 itself — who files it, how it is filed with or apart from the individual return, common filing errors to avoid, and how clients can view and submit elections through their IRS individual online account.

Through practical examples, the instructors show how to counsel families on whether and when to open an account, how these accounts interact with existing savings and retirement planning, and the documentation practitioners should maintain. The program is current as of the December 2025 revision of Form 4547 and the related Treasury and IRS guidance.

Learning Objectives

Upon completion of this program, participants will be able to:

• Explain what a Trump Account is and how it is characterized for federal tax purposes.
• Determine which children are eligible and identify the authorized individuals who may open an account, in their order of priority.
• Apply the rules for the $1,000 federal pilot contribution, annual contribution limits, and employer contributions.
• Describe the tax treatment of contributions during the growth period and the applicable distribution rules.
• Complete and file Form 4547 correctly, including the interaction with the individual income tax return and common filing pitfalls to avoid.
• Advise clients on planning considerations for establishing and funding a Trump Account.