Skip to content
BOL Conferences
Thread Options
#2087467 - 07/11/16 08:17 PM CIP -Trust -EIN ?
Claudia M Offline
Member
Joined: Jan 2016
Posts: 69
Are formal trusts required to apply for a Tax Identifiaction Number. I thought a few years ago, this went into effect, but I could certainly have misd-terpreted something I read, in which case can a grantor/trustee use his/her personal SS# for the Trust? OR if perchance, trust are supposed to get such numbers would trusts in effect prior to a speicified date be grandfathered in?

Return to Top
BSA/AML/CIP/OFAC Forum
#2087476 - 07/11/16 09:07 PM Re: CIP -Trust -EIN ? Claudia M
Just Jean Offline
Platinum Poster
Joined: Feb 2002
Posts: 582
USA
Unless it's a feature of your particular state law, trusts may use the SSN of the grantors during their lifetime. Death causes the trust to become irrevocable. Other trusts may be set up as irrevocable from the outset. Those would be ineligible for the grantor's SSN and would require an EIN.

Return to Top

Moderator:  Andy_Z