Frequently Asked Questions

Fiduciary Tax > File and Pay

• What is a fiduciary?
• How can I be sure the type of trust I am considering is legal?
• Do I need a Minnesota tax ID number as well as a federal ID number?
• Where can I get Form M2?
• How do I notify the beneficiaries of any adjustments they must make on their Minnesota individual returns?

• What is a fiduciary?Back to top

  A fiduciary is a person in a position of trust, for example, the trustee of a trust or a personal representative of an estate.​

• How can I be sure the type of trust I am considering is legal?Back to top

  The IRS has information about some of the trusts they consider abusive. Check out the IRS website for additional information about Abusive Trust Tax Evasion Schemes.​

• Do I need a Minnesota tax ID number as well as a federal ID number?Back to top

  Yes. Register for a Minnesota tax ID number online or call 651-282-5225. TTY users, call 711 for Minnesota Relay. See additional information on registering your business.​

• Where can I get Form M2?Back to top

  You can download Form M2 and instructions from our website.
  
  You may request forms to be faxed to you by sending an email to businessincome.tax@state.mn.us
  
  The department no longer prints most business tax forms and instructions, including those for Fiduciary tax.
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• How do I notify the beneficiaries of any adjustments they must make on their Minnesota individual returns?Back to top

  Provide each beneficiary with a completed Schedule KF. If there are no modifications, there is no need to issue Schedule KF to Minnesota beneficiaries. However, nonresident beneficiaries will need the schedule to determine their Minnesota taxable income.​