Madison Trust Company Q&AAnswer
Mar 07, 2024 - 10:09 AM
No, we do not provide a unique EIN for every IRA. Most of our IRAs use MTC's EIN, unless you were directly instructed by your licensed tax professional to obtain one specifically for the IRA and for the purposes of making an Unrelated Business Income Tax (UBIT) payment. We are aware that the IRS has published new information indicating that if taxes are owed or need to be filed in relation to an investment through an IRA, your licensed professional will typically advise you to apply/obtain your own unique EIN for the IRA.
If you have any more questions, please schedule a call with us or visit our website.
Please note, Madison Trust is a passive custodian and therefore, does not give legal, tax, or financial advice. Please consult with your tax adviser before making any investment decisions.
