In the USA, a trust client will need an EIN to open a bank account. The 1997 letter from the IRS on your website makes it clear this type of trust does not fall under the eyes of the IRS, which is great. However, that same letter goes on to say they (IRS) have cancelled/deleted that EIN. Can you clarify my confusion over having and EIN then it being deleted?
That EIN cancellation was an exception to the rule. It was probably done because the correspondent questioned it. At that time, the idea was that the EIN was for filing tax returns. Otherwise, though, the banks require a number, and maybe they will change it in the future, but thus far they use the IRS SSN or EIN as the ID number for entities that hold bank accounts. That has not been a problem for NLT operators.
What is important, though, is to follow the instructions that you receive with the trust explicitly, in how to apply for the EIN. There is a certain exact procedure. It only takes about 15 minutes, but you have to check the right boxes, say the right words, and not say the wrong things. Those instructions come with your trust.
The IRS is not going to cancel the EIN.
No one to our knowledge out of thousands has had a single problem with the tax man in the US or any country, in one’s individual name or in the name of the trust, as a result of using the NLT or using the EIN associated with it.
By the way, banks in some countries have accepted the US EIN as the trust’s ID number for opening accounts, without the trustee having to get a number from that country’s government.