Whose Social Security Number goes on an irrevocable trust?
When you set up an irrevocable trust and you need a checking account, whose Social Security Number goes on the checking account if it will be in the name of the irrevocable trust?
An irrevocable trust requires its own tax ID number, called an Employer Identification Number or EIN. It's like a Social Security Number, but instead of being for a person, it is for the trust.
You get one online from the IRS website or over the phone by calling 800-829-4933.
Once you get that EIN, the trustee can open up a bank checking account in the name of the trust.
This may not be correct. If the trust is a grantor trust under Sections 671-678 then you can use the social security number of the person deemed to be the grantor in spite of the fact the Trust is irrevocable.
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