My father died 3 years ago and has several accounts in a trust. Several people have said we need to get an Employer Identification Number. Please advise.
When individuals who create grantor trusts are still alive, and the trusts are still revocable by those grantors, the IRS permits the trusts to operate under the social security number of a grantor (and trust income is taxed on the grantors' tax returns). However, when a grantor dies and the trust therefore becomes irrevocable, the IRS requires the trust to obtain its own taxpayer identification number (TIN) and make its own tax return. We advise you to check with your tax accountant to get assistance in filing for the TIN and determine whether the trust has any obligation to file returns for the time since your father died.
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When individuals who create grantor trusts are still alive, and the trusts are still revocable by those 