What Happens If I Do Nothing?
The cost of inaction — what your child misses out on if you don't file by the deadline.
We get it — life with a new baby is hectic. But putting off Form 4547 has real financial consequences. Here's what you need to know.
The Cost of Waiting
The $1,000 government deposit starts growing the moment your account is opened. Assuming an average 10% annual return (the historical S&P 500 average), here's what waiting costs:
- File immediately: ~$5,560 by age 18
- Wait 1 year: ~$5,054 by age 18 (lose ~$506)
- Wait 3 years: ~$4,177 by age 18 (lose ~$1,383)
- Wait 5 years: ~$3,452 by age 18 (lose ~$2,108)
What If I Never File?
If you never file Form 4547 for an eligible child, they simply don't get the account. There's no retroactive way to claim it later. The $1,000 stays with the government.
Is There a Deadline?
You can technically file Form 4547 until the child turns 18. However, the earlier you file, the more time the money has to grow. There's also a special benefit if you file with your tax return by April 15 — faster processing.
The Good News
Filing takes about 10 minutes with our guided tool. The form itself is simple — just basic information about you and your child. You don't need any special documents beyond what you already have.
Ready to get started?
Check your child's eligibility for a $1,000 Trump Account.