Skip to content

Obtaining a trust TIN

If the trust is using the SSN of the grantor, and the grantor dies, how soon after death must the trustee obtain an EIN for the trust?

The sooner the better if it is an interest-bearing account because you don’t have the correct TIN for IRS interest reporting once the grantor dies and the trust becomes irrevocable. The trust TIN needs to be obtained soon enough that if it is an interest-bearing account you can properly report interest for the year broken down between the SSN (for interest accrued up to date of death) and the trust’s TIN (for interest earned later).
Learn more about Mary Beth Guard’s webinar Revocable Trust Accounts

First published on 03/29/2020

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics