Business & farm

"Do I need to file a seperate 1041? "

You can most likely use an optional method of filing that does not involve filing a 1041. If you gave payers of income (e.g., brokerage firms, banks) the TIN of the trust, you can file 1099s to report the income/gross proceeds paid to the trust showing the trust as the payer and you as the payee. 

See https://www.irs.gov/instructions/i1041#idm140630131825216


Alternatively, you could essentially close your account (link below) and use your SSN since the grantor trust is a disregarded entity for federal income tax purposes. In that event, payers of income would issue tax reporting statements with your SSN and you would simply report the income/proceeds on your individual income tax return.

See https://www.irs.gov/businesses/small-businesses-self-employed/canceling-an-ein-closing-your-account


The foregoing notwithstanding, you should consider ongoing tax (and legal) advice from professionals who are familiar with estate planning/asset protection and income taxation of estates and trusts.