Be careful. The trust will be identified to the IRS by its EIN (a.k.a. "taxpayer identification number.") On the application, there is a place to identify the responsible person, including that person's SSN. But the trust will be identified by its own TIN. The responsible party would usually be the settler (I think that's what you mean by "originator.") I gather you're not the settler. In 15 years of doing estate planning, including trusts, I have done a handful of irrevocable trusts. Usually it is neither necessary nor desireable. The fact that you're asking the question about the EIN makes me think that you are do-it-yourselfing an irrevocable trust. Have you thought through all of the tax implications? Are you ready to prepare and file a trust tax return each year? Are you really sure this is what is wanted? I would put the brakes on and get some professional advice. It will be much easier now than later on.
Answered on Sep 26th, 2013 at 5:10 AM