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Just-Lisa-Now-
Intuit Community Champion
February 2, 2024
Solved

Typo on a trust name when applying for an EIN, how to fix?

  • February 2, 2024
  • 2 replies
  • 247 views
I made a typo on an EIN application for an irrevocable trust and misspelled the name, I put a Z and it should have been an S.
 
I see for business EINs you can write to IRS and just explain the error and they will fix it.
 
Im guessing its the same for this situation? Will they send an updated EIN letter? They'll need the letter to open a bank account once this trust has received some income.
    Best answer by Just-Lisa-Now-

    Someone in a Facebook group found this for me, not sure where, but really helpful!  Looks like they DO send an updated letter, fingers crossed this info is still current.

    Answer from CPA Pilot  In the case of a typographical error on an EIN application for an irrevocable trust, the process to correct the mistake is indeed similar to that for businesses. You should write to the IRS at the address where you filed the EIN application. In your letter, explain the error and provide the correct information. Include the EIN number, the name and address of the trust as it was originally provided on the SS-4 form, and the corrected name of the trust. It’s also advisable to include a copy of the EIN assignment notice if available.
    Once the IRS processes the correction, they will send an updated EIN confirmation letter, which can be used to open a bank account and for other official purposes. It’s important to ensure that all trust documents reflect the correct name to avoid any future discrepancies.
    For more detailed instructions, you can refer to the IRS’s guidelines on how to correct EIN information:

    2 replies

    IRonMaN
    Level 15
    February 2, 2024

    I think you are guessing right.  An EIN is an EIN, so it shouldn't matter if the error was on a business or estate account.

    Slava Ukraini!
    Just-Lisa-Now-
    Intuit Community Champion
    February 2, 2024

    Do you think they will send a new updated EIN letter, or can we request that they do when I send the name change letter?

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    IRonMaN
    Level 15
    February 2, 2024

    That I don't know.  If you are dealing with a small local bank, I think you would get by with a "here is the letter and we are getting the spelling corrected".  If they are going with a large chain bank, I would request the new letter when you make the request.

    Slava Ukraini!
    Level 10
    February 3, 2024

    Not sure if this is correct, but you could just decide that the trust named in the original application really does not exist, as there is no trust for that name.

     

    Then you just apply for an EIN for the trust in the correct name...No waiting, print out the letter for the correctly named trust and move on!

    IRonMaN
    Level 15
    February 3, 2024

    To be honest, that idea crossed my mind too😊

    Slava Ukraini!