Why do you need to apply for a EIN number when a Trust is revocable?

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Why do you need to apply for a EIN number when a Trust is revocable?

Asked on May 13, 2013 under Estate Planning, California

Answers:

William Christian

Answered 10 years ago | Contributor

You don't so long as the trustee is the grantor with the power of revocation. The IRS requires a taxpayer ID if another party is the trustee. The taxpayer ID is to assist the IRS in assuring income is properly reported and is reported by the proper taxpayer.


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