Irrevocable IRA Trust files 1041?
Does a self directed checkbook control Irrevocable IRA file an annual return on a 1041? We obtained a Federal Tax ID number for the purpose of opening a bank account. The Administrator of our IRA purchased the Irrevocable Trust and the trust itself makes the investments.
Does the fact that we got a Fed Tax ID Number makes us liable for 1041 tax reporting? There are no UBIT or other issues.
Permalink Submitted by Alan - IRA critic on Thu, 2018-01-25 18:27
If the IRA owns the trust, there should be no reason for a 1041 filing.