Trust ID vs. Employter ID on the 5500

[Guest rachd]

What schedules should the Trust ID be used on? I have been told that it should be used on the Schedule P and Schedule R and that the Employer ID is used everywhere else. Is this correct?

Thanks for your help!

Rachel Diederich

[Guest b2kates]

Trust number is only used on Schedule P, all other forms use Plan Sponsor/Employer EIN.

[Lynn Campbell]

In addition to using the Trust ID on Schedule P - I use it on Form 1099-R and it also shows up on Schedule R, Part I, line 2.

[E as in ERISA]

I agree with Lynn.

[maverick]

Also, if someone else is paying the distributions, you use their tax number on the Schedule R. For example, we use a daily platform and Schwab is the custodian. For dists, Schwab cuts a check and sends it to a bank (think they're called a "paying agent"). The bank deposits the $$ and cuts the dist. check for the participant. We put the bank's number on the plan's Schedule R.