Form 4547

Most likely yes. It’s not in there yet and it’s not on the form status page, however, since it’s a new form I’m not surprised. 

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?  

Form 4547 is ready in ProSeries Pro now

I am awaiting this answer as well, the election is to be made at the time of efiling so not have access to this form is holding up returns.  Other Tax Prep companies are filing this form.  PTO software writers we need an update!

Hi, this form is not yet released in ProConnect.  However, you can monitor this page Generating Form 4547 in ProConnect for updates.  When the form becomes available, it will update with the steps needed to generate it.

Hi! Thanks for posting in the Community about Form 4547. We wanted to share an update we’ve received about the form. This form is currently in development and is targeted for release in mid-February.

IRS FORM 4547 is Final on IRS website and has been final for a while. again WHY IS IT STILL NOT AVAILABLE ON LACERTE AS OF 2/9/2025.  Over 500,000 IRS Forms 4547 were efiled the first 3 days of this filing season, yet 3 weeks later LACERTE STILL DOES NOT HAVE THIS.  WHY, why why are they so far behind on everything this year compared to all other software companies?  Are they short of help?

They do not even have an update on when this might be available.  As we will be filing this form for taxpayers that had children, as we have several that are being held up, we need a date.  Our clients can go down the road for two weeks now to get complete returns filed AND PRINTED, but they have not been able to do that here.  In addition to that, the disruption in flow in our office for efiling some returns and NOT BEING ABLE TO PRINT, is not acceptable.

LACERTE, WHEN IS THIS FORM GOING TO BE AVAILABLE. BEST GUESS??? I DON'T WANT TO KEEP HOLDING UP CLIENTS, IF YOU ARE NOT EVEN ABLE TO GET THIS OUT VERY SOON. We need dates, or at least an estimate.

4547 is available now. Oddly, you can drop down the child name and choose it, but it only completes the name, not the Social Security number and date of birth. Hopefully, that's coming soon.

Now, we need 4547 in Invoice Autocomplete so we can attach a fee to it.