Do you Need an EIN for your NFA Gun Trust?
In a previous blog article we spoke about the need to not have to open up a bank account for your NFA Gun Trust. But that doesn't mean that you can't. If you want to open up a bank account for your NFA Gun Trust you can. You will not need to have an EIN number for the bank account that you will be opening. You will simply use your social security number for any paperwork that the bank requires.
You can use a bank account that you setup for your NFA Gun Trust to purchase NFA Firearms, a.k.a, Title II firearms, but you can also use it to buy Title 1 firearms. That would be the main reason to open up a bank account for your NFA Gun Trust. In summation, with our revocable NFA Gun Trusts, you aren't required to obtain an EIN number. You also aren't required to file annual reports.