Can A Trust Be Shareholder for S-Corporation
No. S-Corps are restricted from having a shareholder that is a private irrevocable express trust (i.e. Bulletproof Trust). Only a Testamentary Trust, Voting Trust, Electing Small Business Trust (ESBT) or Qualified Subchapter S Trust (QSST) can be a S-Corporation shareholder. Even then, there are still restrictions and limits that each of these trusts can exercise in holding S-Corporation shares.
NOTE: A trust can be a Sub-S shareholder (i.e. stock owner) for LLCs that have elected such status, including having a trust as the Manager of the LLC or the General Partner of the LLLP in certain States (i.e. Nevada).