You Make the Call - Oct. 15, 2026

Question: Sofia filed Form 4547, Trump Account Election(s), with her 2025 federal income tax return to open a Trump Account for her eligible child. The account was successfully opened, but she later realized she forgot to check the box electing the $1,000 pilot program contribution in Part III, Line 7. Does she need to amend her 2025 return to correct the missed election? 

Answer: No. The Form 4547 instructions specifically state that Sofia should not amend her 2025 income tax return to include Form 4547. Instead, she should submit Form 4547 separately to make the missed $1,000 pilot program election.  

Because the child already has an open Trump Account, on Form 4547, Sofia must complete all of Part II (child’s information) except Line 6, which should remain unchecked, and complete Part III by checking Line 7 to elect the $1,000 pilot program contribution. 

Best practice is to submit Form 4547 electronically through her IRS Individual Online Account, file the form on the Trump Accounts website or paper file by mail according to the Form 4547 instructions. The IRS processes Form 4547 separately from the income tax return and instructs taxpayers not to attach it to Form 1040-X, Amended U.S. Individual Income Tax Return, or amend Form 1040, 1040-SR or 1040-NR solely to submit the election.