Can a Trust, which files a form 1041, use Form 8888 to request that part of the Trust's refund be used to purchase I-Bonds like an individual can?

[tagteam · Accepted solution]

Most likely not since trusts filing on Form 1041 are typically required to have an EIN.

[Mike9241]

not through form 8888

but you can directly

start

https://www.treasurydirect.gov/RS/UN-AccountCreate.do  click apply now

next page yo

you'll see individual checked but below that  there is a section for Trust o Estate

[Mike7388]

Thanks.  I wonder if there is possible a different form to accomplish the same objective.  I know I can purchase I Bonds directly thru Treasury Direct (limit $10,000 annually), but was wondering about using a refund as you can on your personal return to acquire up to an additional $5,000.

[Mike7388]

Thanks. I know I can purchase I Bonds directly thru Treasury Direct (limit $10,000 annually), but was wondering about using a refund as you can on a Form 1040 to acquire up to an additional $5,000.

[tagteam]

There may be no harm in trying if you already have an account set up for the trust. 

I do not believe there is a parallel form to 8888.

[Mike7388]

Thanks.

[Caza-manga]

Agree with tagteam. From Treasury Direct site regarding EIN:

"In a calendar year, one Social Security Number or one Employer Identification Number may buy:

• up to $10,000 in electronic I bonds, and
• up to $5,000 in paper I bonds (with your tax refund)"