Does a Guardianship Need a Tax ID (EIN) Number?

A guardianship is defined as: when an individual takes charge of controls on behalf of an individual who cannot control their own finances, usually that of a minor. Guardianship is both a financial and a legal responsibility, and it requires some additional consideration regarding financial accounts. For the most part, guardians do not need a tax ID. But they also don’t put anything under their own tax ID.

If the ward has a Trust Account for them, and that Trust account is irrevocable, that Trust account will need to obtain a Trust Tax ID (EIN) Number. But a guardianship itself does not demand a separate EIN, because the act of guardianship simply implies stewardship over the ward’s financial situation, rather than direct and complete control over it. Instead, guardians will control financial accounts that are under their ward’s social security number. That means that the ward will still be paying taxes on their own accounts, but the guardian will likely be responsible for actually making sure that those taxes are paid and filed.