8/18/26
Letter Urging Modernization of IRS EIN Application Requirements for Corporate Fiduciaries
ICBA wrote to the Treasury Department to express concern about IRS procedures that require community bank trust officers to use their personal Social Security Numbers when applying for an Employee Identification Number for a trust or estate for which the bank serves as trustee, executor, personal representative, or other fiduciary.
ICBA said that in today’s heightened cyber risk environment, bank employees should not be required to expose their personally identifying information and that a simple solution would be to create an exemption that allows a bank to use its corporate EIN when applying for an EIN on behalf of a trust or estate.