In an ongoing data cleanup process, we are beginning to turn attention to Trust accounts. We currently get updates imported daily via our broker dealer, who is getting the file from the aggregator (Albridge). The updates seek and match to a Person Account SSN.
Looking at Trust accounts, certain ones (living trusts) will use the Trustee SSN rather than a separate TIN. Does anyone currently work this way, and how are you working to match the Person Account information separately from the Trust when they use the same identifier?
We solved this with two tax ID fields and two separate imports for the same object.
Person Accounts store the SSN in one field (SSN__c). Trusts and other entities are business Accounts and store their tax ID in a different field (EIN__c). Two fields means the same number can live in both places without conflict.
Each row in our custodian feed says what type of client it is (Individual or Entity), so we split the file into two imports before matching. Individual rows only search Person Accounts on SSN__c. Entity (trust) rows only search business Accounts on EIN__c.
Example: Brenda's Person Account has 123-45-6789 in SSN__c. The Brenda Family Trust is a separate business Account with that same 123-45-6789 in EIN__c. When an update comes in for her individual brokerage account, it's flagged as an individual, so it only searches Person Accounts and finds Brenda. When an update comes in for the trust account, it's flagged as a trust, so it only searches business Accounts and finds the trust. Same number, no collision, because the flag decides where to look, not the number.
For this to work for you, data feed has to tell you which rows are trusts and which are individuals (a registration type or account type field, something like "individual" vs "revocable trust"). If it has that, you're set.
