topic After a person dies does their revocable trust (which is now irrevocable) need a separate tax id in Business & farm

After a person dies does their revocable trust (which is now irrevocable) need a separate tax id

Philodog — Fri, 11 Sep 2020 06:51:10 GMT

Re: After a person dies does their revocable trust (which is now irrevocable) need a separate tax id

Anonymous_ — Fri, 11 Sep 2020 18:40:18 GMT

If the trust had been reporting under the grantor's social security number (as a grantor trust, which is the typical case) and the (now irrevocable) trust needs to file an income tax return, a EIN is needed in order to file a return (Form 1041) for the trust since it is now a separate taxable entity.

See https://www.irs.gov/businesses/small-businesses-self-employed/do-you-need-a-new-ein

Re: After a person dies does their revocable trust (which is now irrevocable) need a separate tax id

Anonymous — Fri, 11 Sep 2020 18:46:25 GMT

if the trust has an EIN that was obtained when it started or later, it should continue to use it. no need for a new one.