An EIN for a Revocable Living Trust

[JoeyVegas]

Can a Family Revocable Living Trust created for a husband & wife use the husband's social security number, or must it obtain a EIN since the husband & wife are both grantors? Using a EIN will force the Trust to file a form 1041 every year if there is investment income on Living Trust assets. The trust K-1s will flow the income onto the husband & wife's form 1040 anyway, but the 1041 preparation is an unnecessary and costly process that can be avoided. Am I correct with this logic? Thank you for any guidance.

[RWG1950]

As I understand this, the grantor(s) social security number is used - often the husband's. When the trust becomes irrevocable (at the death of the last grantor) then an EIN is obtained & used on the 1041. This is covered in TTB.

[JoeyVegas]

Thank you. I agree.