What type of trust is a TFSA when applying for an EIN?

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Fructose
Posts: 22
Joined: Sat Apr 28, 2012 9:29 pm

What type of trust is a TFSA when applying for an EIN?

Post by Fructose »

My accountant is quoting a large charge to obtain an EIN for use with reporting a TFSA and filing a 3520/3520A.

However browsing this forums informs me its something that can be obtained for free from irs.gov so I thought I'd do it myself and save some money, however I don't know what type and subtype should be entered for the EIN.

I'd be grateful if somebody could assist me with the following 3 questions:

1) On the first page it asks what type of legal structure is applying for the EIN (https://sa.www4.irs.gov/modiein/individ ... ucture.jsp).

I presume for this I select Trust?

2) If trust is indeed the correct choice, then the next page asks what type of trust and provides many choices (https://sa.www4.irs.gov/modiein/individ ... t-type.jsp), which is the correct type?

3) If I choose one at random to see what other questions it asks me later there is a tick box akin: "Trust filing as an Estate under Sec. 645". Is the answer to that yes or no?

Thank you in advance
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