Opening Bank Accounts for the Living Trust with the Foreign EIN

Previous Topic Next Topic
 
classic Classic list List threaded Threaded
5 messages Options
Reply | Threaded
Open this post in threaded view
|

Opening Bank Accounts for the Living Trust with the Foreign EIN

Happy Camper
This message is concerning the use of Foreign EIN to open a bank account. Most applications want:

1.   A drivers license number. Suggestions Please.
2.   They want the name of the Trustee.  We are the "Estate Holders" and or Authorized Agents/POA.
So, is the Trustee the all capital letter name?  For example: JOHN HENRY DOE
Or is the Trustee:  John Henry., House of Doe?  Suggestions Please.
3.   What about applying for a Credit Card Accounts for the Living Trust?
4.   What to use as the Street Address for the Trust? Most will not accept a PO Box.
5.   What is the Trust Name?  Exactly as IRS states it on the EIN letter?  For example in my letter from IRS, this is how [in form anyway] they stated that the Trust must be designated on all documents:   JHD, TR; JOHN HENRY HOUSE OF DOE, SP


Reply | Threaded
Open this post in threaded view
|

Re: Opening Bank Accounts for the Living Trust with the Foreign EIN

iamsomedude
Administrator
this is why you use the 98-ein to get another EIN under a 508 exclusion ... the 98-EIN is for the responsible party, the EIN Number is for the ALL CAP NAME ...


when you are done you should have the 98-EIN, a 3X series EIN for the FML Trust, and an EIN for the ALL CAP NAME that will be the trustee for the FML Trust so that trustee should now be able to open the account.

When you go to the bank, you should probably only need the 3X series EIN and the one you get from the 98-EIN being the responsible party.
~ Boris

We are called to be architects of the future, not its victims;
Resistance is futile.

If you think you can, you are correct.
If you think you can't, you are correct.
Reply | Threaded
Open this post in threaded view
|

Re: Opening Bank Accounts for the Living Trust with the Foreign EIN

Happy Camper
Boris,
Makes perfect sense.
Please show or tell us were you teach these 3 different EIN's.  Audio?  Video?  Documents?

Reply | Threaded
Open this post in threaded view
|

Re: Opening Bank Accounts for the Living Trust with the Foreign EIN

iamsomedude
Administrator
when all is completed, all will be given to everyone.

There will be a $5000 convenience fee, but I will waive it if I like ya  

~ Boris

We are called to be architects of the future, not its victims;
Resistance is futile.

If you think you can, you are correct.
If you think you can't, you are correct.
Reply | Threaded
Open this post in threaded view
|

Re: Opening Bank Accounts for the Living Trust with the Foreign EIN

Happy Camper
What to use for ID for Trustee?