Does an IRA need a Tax ID (EIN)?

An IRA usually does not have its own EIN. Instead, it’s reported under the social security number of the person who owns it. Since IRAs are individual and independent retirement accounts, they are owned by the person contributing to it. But there are some exceptions to this rule, the most notable being if you have a self-directed IRA.

A self-directed IRA is an IRA that you have control over. You can invest in businesses, real estate, or even gold through your IRA account. There are rules and regulations regarding a self-directed IRA, and it’s not something that someone should do without some training and education.
With a self-directed IRA, there will usually be a custodian involved to make sure that the IRA is managed correctly, and the custodian will acquire an EIN for the IRA. But other than this most IRAs are never going to need an EIN, and will continue to report under the person making contributions.