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Changing Trust Account from SSN to TIN

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Can a grantor on a trust change her social security number to a TIN without closing that account?

If your institution has the ability to allocate information reporting between the SSN and the EIN for the calendar year of the change, using the same account number should not be a problem. Here, you are not attempting to change ownership via account maintenance, something bankers often do. You are simply trying to accomodate a routine change in the TIN when the trust becomes irrevocable.

First published on 5/30/11

First published on 05/30/2011

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