Tax & Accounting Blog

Regulations Require Updating of Employer Identification Numbers

Blog, Information Reporting for Wealth Management, Tax Information Reporting, TIN Compliance, Trust & Estate Administration, Trust Tax, Trusts September 25, 2013

surferOn May 3, 2013, the IRS issued final regulations that require any person assigned an employer identification number (EIN) to provide updated information to the IRS in the manner and frequency prescribed by forms, instructions, or other appropriate guidance.  These regulations affect persons with EINs and will enhance the IRS’s ability to maintain accurate information as to persons assigned EINs.  The regulations affect entities, including trusts.