Do I Need an EIN for my Revocable Living Trust?

Q:           Do I need an EIN for my revocable living trust?

A:            No.  If you created a trust, funded it with your money, and reserved the right to revoke it, then the IRS does not consider it a separate tax-paying entity. The the trust will not require its own taxpayer identification number or employer identification number (referred to as an “EIN”).  In fact, you cannot obtain an EIN for a trust that is revocable.  Such a trust does not file its own tax return.  If you would like to know if a trust would be appropriate for your estate plan or tax planning, contact Bach & Jacobs, P.A. at (941) 906-1231.  Attorney Fred Jacobs is a Board Certified Tax Lawyer and can advise you on the use of trusts in your planning.