What you need to open a trust bank account
A trust bank account requires the trust document itself, not just your personal ID. The bank will ask to see the trust agreement — the legal document that created the trust — so they can verify who has authority to deposit and withdraw money. You'll also need an Employer Identification Number (EIN), which is a tax ID for the trust, separate from your Social Security number.
Bring the trust document, your personal ID, and proof of the EIN when you visit the bank. Some banks will photocopy the trust agreement; others will ask you to certify a copy yourself. A few banks accept a certification of trust instead — a shorter document that proves the trust exists and names the trustee, without revealing the full contents of the trust to the bank.
If you're opening the account as a trustee but not the person who created the trust, bring documentation showing you were appointed to that role. This is usually a page from the trust agreement itself or a letter from the trust's creator.
Key Takeaways
- You must provide the trust agreement or a certification of trust; banks will not open a trust account with only your personal ID.
- The trust needs its own Employer Identification Number (EIN) from the IRS, obtained by filing Form SS-4 online or by mail.
- The account title should read "Trustee Name, Trustee of [Trust Name]" so the bank and the IRS both know money in the account belongs to the trust, not to you personally.
- Different banks have different rules about which documents they accept and whether they charge monthly fees for trust accounts.
- If the trust was created in another state, bring the original trust agreement or a certified copy; some banks require certification by a notary.
Getting an EIN for the trust
You cannot open a trust bank account without an EIN. This is a nine-digit number the IRS issues to identify the trust for tax purposes. You get it by filing Form SS-4 with the IRS.
The fastest way is to file Form SS-4 online through the IRS website. You answer questions about the trust — its name, the date it was created, and who the trustee is — and the IRS issues the EIN immediately. You can print it right away and take it to the bank the same day. Filing by phone (1-800-829-4933) also gives you the number on the spot, though you'll need to mail a signed copy of the form afterward. Filing by mail takes four to six weeks.
If you're the trustee and also the person who created the trust, you'll need the trust's creation date and your Social Security number. If someone else created the trust and appointed you as trustee, you'll need their Social Security number or the trust's EIN if it already has one.
Choosing which bank and account type
Not all banks offer trust accounts, and those that do may have different requirements. Call ahead and ask whether the bank accepts trust accounts and what documents they need. Some banks require the full trust agreement; others accept a certification of trust. Some charge monthly fees for trust accounts; others do not.
You'll typically open a checking account for a trust, since you'll need to write checks or make transfers to pay bills or distribute money to beneficiaries. Some trusts also open a savings account to hold funds temporarily or earn interest. A few banks offer both in a single relationship, which can make it easier to move money between accounts.
Ask the bank whether they require a minimum balance and what happens if the balance falls below it. Some banks waive monthly fees if you keep a certain amount in the account; others charge a flat fee regardless. These details matter if the trust will hold money for a long time or if you'll be making frequent small deposits and withdrawals.
What documents to bring to the bank
Bring the original trust agreement or a certified copy. If you're bringing a copy you made yourself, some banks will ask you to have it notarized — a notary public will verify that your copy matches the original. This usually costs $5 to $15 per page and takes a few minutes at a bank, UPS store, or notary's office.
Bring your personal ID (driver's license, passport, or state ID) and the EIN documentation. If you received the EIN online, print the confirmation page. If you received it by phone, bring a copy of the signed Form SS-4 you mailed to the IRS, or wait for the IRS to mail you the official notice (Form SS-4 confirmation) and bring that.
If you're not the person who created the trust, bring proof of your appointment as trustee. This is usually a page from the trust agreement that names you, or a letter from the trust's creator or the previous trustee. Some banks will ask you to certify this document as well.
How the account will be titled and taxed
The bank will title the account something like "Jane Smith, Trustee of the Smith Family Trust" or "Trustee of the Smith Family Trust, EIN 12-3456789." This tells the IRS and anyone else who sees the account that the money belongs to the trust, not to you personally. This matters if you die or face a lawsuit — creditors cannot claim money in a trust account the way they could claim money in your personal account.
The trust itself pays taxes on any income the account earns (interest, dividends, or other gains). You'll receive a Form 1041 from the bank at the end of the year showing how much income the trust earned. You then file Form 1041 with the IRS and report the income. If the trust distributes money to beneficiaries, those beneficiaries may owe taxes on what they receive, depending on the trust's terms and the amount.
This is different from a personal account, where you pay taxes on the interest yourself. With a trust account, the trustee is responsible for handling the tax filing. If you're unsure how to file Form 1041, a tax preparer or CPA who works with trusts can help.
Opening the account in person or online
Most banks require you to open a trust account in person at a branch, not online. This is because the bank needs to see the original trust agreement or a certified copy and verify your identity. A few large banks offer online trust account opening, but they still require you to upload images of the trust agreement and your ID, and some ask you to mail in certified copies afterward.
Call the bank before you go to the branch. Ask which documents they need, whether they accept certifications of trust, and whether you can bring copies or must bring originals. Some branches are more experienced with trust accounts than others, so if your local branch seems uncertain, ask whether another branch nearby handles them regularly.
Bring everything in one visit if you can. You'll need the trust agreement, your ID, the EIN documentation, and proof of your appointment as trustee (if applicable). The account usually opens the same day, though the bank may place a hold on deposits for a few business days while they verify the documents.
What happens if the trust was created in another state
If the trust was created under the laws of a different state, bring the original trust agreement or a certified copy. Some banks accept out-of-state trusts without extra steps; others ask for a certification by a notary or an attorney stating that the trust is valid under that state's law.
A certification of trust is often easier than providing the full agreement. This is a short document, usually one or two pages, that confirms the trust exists, names the trustee, and states the trustee's powers. It does not reveal the trust's contents or who the beneficiaries are. Many banks accept this instead of the full agreement, especially if the trust was created in another state.
If you're unsure whether your trust agreement will be accepted, ask the bank what they need before you visit. If they're uncertain, you can have an attorney in your state draft a certification of trust, which usually costs $100 to $300 and takes a few days.
Frequently Asked Questions
Can I open a trust account if I'm not the trustee?
No. Only the trustee — the person named in the trust agreement to manage the trust's money — can open a trust bank account. If you're a beneficiary or a family member but not the trustee, you cannot open the account. The trustee must do it.
What if the trust agreement says the trustee is a company or organization?
If the trustee is a corporation, LLC, or nonprofit, that entity opens the account using its own EIN and documentation. The person authorized to sign on behalf of that entity (usually an officer or manager) brings the entity's formation documents and their personal ID to the bank.
Do I need a separate account for each trust?
Yes. Each trust needs its own bank account with its own EIN. If you are trustee of two trusts, you open two accounts, each titled with that trust's name and EIN. Money from different trusts cannot be mixed in one account.
What if the bank refuses to open a trust account?
Some smaller banks do not offer trust accounts. If your bank declines, ask which banks in your area do accept them. Credit unions, online banks, and large national banks usually offer trust accounts. You can also ask the bank whether they accept a certification of trust instead of the full agreement — this sometimes removes the barrier.
Can I add another person as a signer on the trust account?
Only if the trust agreement allows it. Some trusts name a co-trustee or allow the trustee to delegate signing authority. If the trust does not allow it, you cannot add another signer without amending the trust, which requires the person who created the trust (or their estate, if they have died) to approve the change.