Getting an EIN (Employer Identification Number) for a series within a Wyoming Statutory Trust (WST) is where the “internal” legal world of Wyoming meets the federal world of the IRS.
Because you are launching 20 series, you have two options for handling EINs.
1. The Single EIN Strategy (Consolidated)
Most people start here. You get one EIN for the Master Trust.
- How it works: All 20 series operate under the same tax ID. You file one tax return for the entire trust.
- Pros: Simpler accounting; only one tax filing fee for your CPA.
- Cons: If you want a truly clean “wall” for banking or to build a separate credit profile for a specific farm, this can be messy.
2. The Multi-EIN Strategy (Isolated)
You can get a unique EIN for each series (e.g., one for Gonen Capital Series). This is the best way to prove to a bank or the IRS that the series are truly separate.
How to apply for a Series EIN:
You can do this online through the IRS EIN Assistant.
- Entity Type: Select “Trust”.
- Type of Trust: Select “Irrevocable Trust” or “Statutory Trust” (the IRS system usually groups these under “Other” or “Irrevocable” depending on your specific setup).
- Legal Name: This is the most important part. You must use the full legal designation: Gonen Statutory Trust – Gonen Capital Series
- Slow and Steady: Apply for one series EIN every 24 hours online.
- The Paper Method: Fill out Form SS-4 for each series and fax/mail them all at once. It takes longer (a few weeks), but it avoids the “one-per-day” online lockout.
Banking Note
When you walk into a bank for Gonen Capital Series, they will ask for the “Tax ID.” If you give them the Master Trust EIN, the account name will likely be the Master Trust. If you give them a specific EIN for that series, the bank can often title the account specifically to that series, which is much better for your “separability” (the legal shield).
Are you planning to have all 20 series active and banking immediately, or will you be rolling them out one by one?