The answer depends on one thing: is the trust creator still alive? While the trust creator is alive, a revocable trust uses their Social Security number. After they pass away, the trust needs its own EIN (Employer Identification Number). Getting this right keeps you on the right side of IRS rules.
During the Trustor's Lifetime: Use Your Social Security Number
A revocable trust uses the grantor's Social Security number for everything. This includes:
- Bank and brokerage accounts titled in the trust
- Interest and dividend income earned by trust assets
- Real estate deals that involve trust property
- Any tax reporting tied to trust-held assets
The IRS treats a revocable trust and its trustor as the same taxpayer. The trust is "tax invisible." You do not file a separate return. All income from trust assets goes on your personal Form 1040. It works the same as before the trust was set up.
Some banks may ask for an employer identification number when you open a trust account. This is the bank's choice, not an IRS rule. If a bank insists on an EIN, you can get one. But it does not change how you file. Everything still goes on your personal return.
After the Trustor Passes Away: The Trust Requires an EIN
When the trustor dies, the revocable trust becomes irrevocable by law. The IRS now sees it as its own legal entity. The successor trustee must:
- Apply for a new employer identification number from the IRS (this can be done online at irs.gov in about 10 minutes)
- Update all banks and brokers to show the new EIN on every trust account
- File tax returns on their own using Form 1041 for any income earned after the trustor's date of death
- Stop using the trustor's SSN for any trust transactions going forward
This is one of the first tasks for a successor trustee. Delays in getting an EIN can slow down the whole process. Banks and brokers will not release funds or update accounts without it.
What About Irrevocable Trusts Created During Life?
Some trusts are irrevocable from the start. Examples include life insurance trusts, special needs trusts, and certain asset protection trusts. These are separate legal entities from day one. They need their own EIN right away. They must also file tax returns (Form 1041) each year. The grantor's Social Security number is not used for these trusts.
Trust Naming and Account Consistency
The trust's legal name is set in the trust paper. It usually includes the trustor's name and the date the trust was set up. That name goes on every account. After the trustor passes, the trust keeps the same name. The EIN changes, but the name and date stay the same. This holds true even after a trust restatement.
The name must match on all records. Deeds, bank accounts, and investment accounts should all match exactly. Small gaps, like a missing middle initial or a different date format, can cause problems for the successor trustee later.
Getting the Details Right
Whether the question is about an EIN, a Social Security number, or how to title accounts, these details matter. An estate planning team can help make sure everything is set up the right way from the start. The goal is to make things as easy as possible for the people who step in later. No surprises down the road.