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PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4106
Experience:  35 years tax experience, including four years at a Big 4 firm.
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A trust ID Number? My cousin died. She has an account with a

Customer Question

a trust ID Number?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: My cousin died. She has an account with a stockbroker and they need a trust ID number. The account reads Towsley Living Trust.
JA: Is there anything else the Accountant should be aware of?
Customer: My cousin's niece in Germany is the heir and I am the trustee of the account. The niece in Germany wants me to sell everything in the account.
Submitted: 1 month ago.
Category: Tax
Expert:  PDtax replied 1 month ago.

Hi from Just Answer. I'mCustomer and can assist.

Expert:  PDtax replied 1 month ago.

The broker must have had an ID number to set up the account.

Since that wasn't done, I can think of two situations that might have occurred:

  1. the trust existed under your cousin's social security number, and now a trust ID is needed.
  2. the trust springs up as a function of her will, and a trust ID is needed.
Customer: replied 1 month ago.
the account is under my cousin's SS and now the stockbroker wants to open a new account under my name as trustee
and I have to give them my S.S.
Expert:  PDtax replied 1 month ago.

Applying for a new ID number is *****

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online is the link to IRS web page that will give an EIN within minutes.

You as trustee have the authority to apply for the number.

The number will be issued immediately after completing the questionnaire. Give that to the broker for new account seup.

Thanks for asking at Just Answer. Positive feedback is appreciated. I'mCustomer

Expert:  PDtax replied 1 month ago.

Hi again from Just Answer.Customerhere.

I made the Offer for a phone call, per your request. Please advise if you still want to discuss things further.

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