How Do You Use A Trust Identification Number To Open A Bank Account?
A trust is a separate legal entity that can buy, sell, hold and distribute property according to the terms set forth by the grantor. Some trust accounts use separate tax ID numbers while others simply use the Social Security number of the grantor. Trusts that are going to be taxed as separate entities generally fall into the former category. Bring a copy of your trust with you to the bank where you intend to open your trust account. You will have to furnish this to the bank so that it can make a copy of the title page, if not the entire document. Specify to the bank the type of account that you are opening and explain what type of trust you are using. It may have different documents depending upon the type of trust. Complete the new account paperwork, using the tax ID number of the trust. If this number is not listed in the actual trust itself, your attorney who drew it up can furnish it for you. You may still have to list your Social Security number somewhere, which is OK. Make sure t
