Q: Do you generally apply for an EIN for the IRA Trust and underlying sub-trusts upon initial implementation or do you use the beneficiaries social security numbers on the IRA beneficiary designation forms?
A: We obtain the EIN after the IRA owner dies and when the separate shares are created. When the client is completing the IRA beneficiary designation form they can note “TBD” (to be determined) for the SSN (or EIN) since it will be obtained in the future.
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