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<p class="MsoNormal">Hi John,<o:p></o:p></p>
<p class="MsoNormal">Yes, you will need an EIN. It will be required at any financial institution in order to set up the trust account that will house the settlement funds. Whether a tax return is required turns on how much reportable income is earned, which
I believe is a $600/year threshold. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-family:"Script MT Bold"">Jennifer L. White, Esq.</span>
<span style="font-family:"Script MT Bold""><o:p></o:p></span></p>
<p class="MsoNormal"><img width="105" height="105" style="width:1.0958in;height:1.0958in" id="Picture_x0020_2" src="cid:image001.jpg@01D6A3B6.E4022710"><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><i><span style="font-family:"Arial Rounded MT Bold",sans-serif"><a href="mailto:jen@appletreelaw.com"><span style="color:#0563C1;font-style:normal">jen@appletreelaw.com</span></a><o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-family:"Arial Rounded MT Bold",sans-serif">PO Box 11037<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial Rounded MT Bold",sans-serif">Yakima, WA 98909<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial Rounded MT Bold",sans-serif">509.225.9813<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>John Keckemet<br>
<b>Sent:</b> Friday, October 16, 2020 11:58 AM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] EIN for settlement trust req'd<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Settlement trust (irrevocable) approved by court to receive funds related to a minor settlement for personal injuries. Must an EIN be obtained for the trust? None would be required if the parents were simply acting as guardians! Would
like to avoid requirement to prepare return or suffer trust tax rate. Thanks. <o:p>
</o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#4D4D4D">John Keckemet, Attorney<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black"><img border="0" width="160" height="73" style="width:1.6666in;height:.7583in" id="Picture_x0020_1" src="cid:image003.png@01D6A3B6.E3D99070" alt="LKA Email 500"></span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black"><br>
</span><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">1200 5<sup>th</sup> Avenue, Ste 1550<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">Seattle, Washington 98101<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">p. 206.728.5858 f. 206.728.5863<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black"><a href="mailto:keck@lka-legal.com">keck@lka-legal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black"><a href="http://www.lka-legal.com">www.lka-legal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">This e-mail is intended to be private. It may contain privileged or confidential information. If you are not an intended recipient, please notify me and delete the
e-mail without copying or forwarding it.<o:p></o:p></span></i></p>
<p class="MsoNormal"><o:p> </o:p></p>
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