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 11 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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