A revocable trust exists as an agreement that indicates how to distribute a person’s property while he is alive and when he dies, as explained by the Missouri Bar website. An employer identification number, also known as a federal tax ID number, is a nine-digit number used to identify a trust for taxation purposes. All revocable trusts, with the exception of certain grantor-owned revocable trusts, must get an EIN from the Internal Revenue Service. Also, a bank uses an EIN to identify a trust for banking purposes.
Apply online using the IRS website. The easiest way to get an EIN for a revocable trust is to complete Form SS-4 online. Input the legal trustee name, address and Social Security number. A trustee is the party responsible for managing the trust resources and dispersing assets to trust beneficiaries. Check the box indicating the EIN is for a trust. Indicate the reason for applying for an EIN and the date when the trust was established. Sign and date Form SS-4. An EIN is assigned to the revocable trust at the conclusion of the online session.
Dial 800-829-4933 to reach the IRS Business and Specialty Tax Line. Call Monday through Friday from 7 a.m. to 10 p.m. local time. Provide information about the trust to an IRS assistor. The assistor captures the information to complete Form SS-4 over the phone. The IRS assistor will provide the trust with an EIN after the telephone interview is complete.
Print Form SS-4 from the IRS website. Complete all sections of the form. Include a coversheet that details the contact name, address, telephone number and return fax number. Fax Form SS-4 to the IRS at 859-669-5760. A revocable trust that submits Form SS-4 by fax will receive an EIN within four business days, as long as a return fax number is provided.
Mail Form SS-4 to the Internal Revenue Service, Attn: EIN Operation, Cincinnati, OH 45999. Using this method takes the longest for a revocable trust to receive an EIN. It may take as long as four weeks for a revocable trust to receive an EIN by mail, according to the IRS website.
- Internal Revenue Service: How to Apply for an EIN
- Smal Business Administration: Getting a Tax Identification Number
- Findlaw: Getting an Employer Identification Number
- Internal Revenue Service. "Abusive Trust Tax Evasion Schemes - Questions and Answers: Basic Trust Law." Accessed Oct. 26, 2020.
- Nolo. "Living Trust FAQ - Does My Living Trust Need an EIN?" Accessed Oct. 26, 2020.
- The Siegel Law Group, P.A. "Revocable vs. Irrevocable Trust: What’s the Difference?" Accessed Oct. 26, 2020.
- William C. Deveneau. "When a Revocable Trust becomes Irrevocable." Accessed Oct. 26, 2020.
- Internal Revenue Service. "Employer Identification Number: Understanding Your EIN," Page 8. Accessed Oct. 26, 2020.
- Internal Revenue Service. "About Form 1041, U.S. Income Tax Return for Estates and Trusts." Accessed Oct. 26, 2020.
- Internal Revenue Service. "2019 Instructions for Form 1041 and Schedules A, B, G, J, and K-1," Page 8. Accessed Oct. 26, 2020.
Christopher Carter loves writing business, health and sports articles. He enjoys finding ways to communicate important information in a meaningful way to others. Carter earned his Bachelor of Science in accounting from Eastern Illinois University.