My bank says that I must apply for an EIN for the trust in order to open an account with them. I would rather just use my Social Security number, as I am the Trustee.
Are you certain you have an irrevocable trust? If so, get the EIN/TIN.
The irrev. trust is a new entity and it must have its own TIN. It also must file a Federal Income Tax Return annually (possibly a State Return wil be needed as well).
If you would rather use your SSN, then you cannot use an irrevocable trust.
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Your ssn can not be used for the Irrevocable Trust, since it needs its own identifier.
It is a bit unusual however that you are the trustee of an irrevocable trust which I assume you created. If you have any discretionary powers to control beneficial enjoyment of beneficiaries, the trust assets would still be taxable to you for estate tax purposes. That is why a third party is generally named trustee. So I am not sure why you are employing this type of trust.
If you are confused and the trust is in fact a "revocable" trust, then as it may be a "grantor trust" you could register it under your ss number.
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