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 Otc 901 Form 2020

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Instructions and help about Otc 901 Form

foreign Rex Crandell and today I'm going to be talking about how to apply for an employer identification number for a trust generally an estate planning trust the employer identification number is something like a social security number for an entity it's also called a taxpayer identification number Tin uh the other CIS normally referred to as an EIN most of the time and the purpose of this is to get a bank account in the name of the trust and for tax reporting purposes I point out that you do not get one of these if you um just formed a revocable trust you do not get a federal ID number this is only in the case where the person who made the trust passes away and then the trust becomes irrevocable and that at that time the trust becomes a tax paying entity on its own because the social security number of a decedent can no longer be used for any other purpose so let's look at the application for an employer identification number it's a form ss4 from the I

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