In the past, if we had a plan that needed to file a Schedule P, and it didn't have a Trust Identification Number, I'd add a comment to the cover letter stating that the Trust needs it's own number that is independent of the sponsor's EIN.
So, next year, when the P is no longer needed what do I do? I'd have no idea whether or not they have a TIN. And what else would the TIN be for?
Full Version: Trust Identification Numbers
QUOTE (BG5150 @ Sep 5 2006, 01:18 PM) 
In the past, if we had a plan that needed to file a Schedule P, and it didn't have a Trust Identification Number, I'd add a comment to the cover letter stating that the Trust needs it's own number that is independent of the sponsor's EIN.
So, next year, when the P is no longer needed what do I do? I'd have no idea whether or not they have a TIN. And what else would the TIN be for?
So, next year, when the P is no longer needed what do I do? I'd have no idea whether or not they have a TIN. And what else would the TIN be for?
It would still be on the trust records...everything from that checking account that acts as a payroll holding / distribution clearing account to the individual brokerage accounts. For those accounts that don't have a custodian the TIN is on the 1099-R's, 1096's, and 945's. Without it there is no real separation of assets....
Should be part of basic plan documentation files...
If any benefits are paid from the trust, then the EIN goes on the Schedule R.
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