As part of clients financial planning, he set up several trusts some time ago each having a federal EIN. Then client turns over management of the trusts to a different planner and that one immediately filed for EINs. Now each trust has 2 EINs. What to do? Will the second simply override the first and he goes on business as usual? Or does someone need to send letters of explanation?
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Just had this happen last month.
Call the Business and Specialty Tax Line at 1-800-829-4933. Provide the EINs, name & address for each. They will ask which one you want to use and they will cancel the other. Then send a letter to confirm this to:
Attention: Entity
Ogden, UT 84201
Simple - done in less than 15 mins. -
Thanks for the heads up. I found the address in an IRS pub but no phone #. I'll give this a try.Comment
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