client applied online and requested Estate EIN and House is inTrust. Title on CP575 reflects name and Estate. In the what you need to know portion the EIN states estate or trust. I am under the understanding by calling the IRS the name can be corrected. I've seen post on other sites that says you need to cancel the EIN and re apply. Anyone have any thoughts on the best way to handle ?
says clients deceased parents name Estate and I would correct to clients parents name Irrov Trust
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The parent died owning only a house, and nothing else? Or are there other assets to administer? Are they in the trust also?
It's much easier to apply for another EIN for the trust, than to call IRS and try to get the name changed. If the estate has no income, you can always file a final 1041 with zeroes. You can wait until IRS asks for it, which is unlikely.
An estate's income tax return is Form 1041.
A trust's income tax return is Form 1041.
An estate is not a trust, and a trust is not an estate. Which one do you have?
The parent died owning only a house, and nothing else? Or are there other assets to administer? Are they in the trust also?
It's much easier to apply for another EIN for the trust, than to call IRS and try to get the name changed. If the estate has no income, you can always file a final 1041 with zeroes. You can wait until IRS asks for it, which is unlikely.
The client applied online and chose estate on the SS4. Mother died and had a revocable trust and house is titled in trust. Should have chosen irrevocable trust. I'm looking for the best way to correct. she died in November and house to be sold in 2026. Nothing else titled in the Trust. Since there is no form maybe mail a letter to IRS stating incorrect name (estate) then the correct legal name (Trust) with an explanation that chose the wrong reason on SS4
Correct. Small bank accounts left as TOD and IRA's. Only thing titled is the Home that is up for sale in 2026
You could always get an EIN for the Trust. And maybe make a 645 election to treat it as part of the Estate.
I have no confidence in IRS being able to unravel the Estate EIN, rename the entity and assign the EIN to the Trust.
Thank you for all your responses. I will have client apply for correct EIN for irrevocable Trust and close the EIN they applied for in error. Since they require everyone to do online there should be a way to correct but as everyone mentioned better not to confuse the IRS employees
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