IRS Tax ID (EIN) Application

Frequently Asked Articles

204 ITNS FAQ ENTITY TRUST Does a Charitable Lead Annuity Trust need a Tax ID EIN

Does a Charitable Lead Annuity Trust need a Tax ID (EIN)?

In short: Yes. But the longer answer is a little more complex. First, a charitable lead annuity trust is a special type of trust that delivers benefits to the donor, beneficiary, and charity. During a charitable lead annuity trust, a donor places their assets within an irrevocable trust account. This trust account (which does need its […]


203 ITNS FAQ ENTITY NPO Does a household Employer need a Tax ID EIN

Does a Household Employer need a Tax ID (EIN)?

A household employer is an individual who hires people around the house to do work, such as a nanny, gardener, or housekeeper. These individuals are generally not required to have an EIN, because they are hiring people for discrete work. It’s no different than hiring a company such as a plumber, electrician, or gardening and pest […]


201 ITNS FAQ ENTITY NPO Does a Employer Fiscal Agent under IRC Sec 3504 need a Tax ID EIN

Does an Employer/Fiscal Agent (under IRC Sec 3504) need a Tax ID (EIN)?

An employer/fiscal agent will need their own Tax ID EIN. Specifically, the employer will have their own EIN, and the fiscal agent (the entity responsible for performing the employer’s tax returns) will have their own EIN. The employee will still be hired by the employer and their EIN, whereas the fiscal agent will be responsible […]


200 ITNS FAQ ENTITY NPO Does a GMA Ginnie Mae need a Tax ID EIN

Does a GNMA (Ginnie Mae) need a Tax ID (EIN)?

GNMA (Ginnie Mae) is a governmental organization that guarantees mortgage-backed securities. When mortgages have been funded, they are then sold on a secondary market. GNMA facilitates this. Homebuyers in the market will ever interact directly with GNMA, except insofar as they may have a loan that is resold and repackaged under GNMA’s guarantee. When purchasing a […]


198 ITNS FAQ ENTITY NPO Does a FNMA Fannie Mae need a Tax ID EIN

Does an FNMA (Fannie Mae) need a Tax ID (EIN)?

Fannie Mae (FNMA) is a service that facilitates mortgage loans by both purchasing and guaranteeing them, though it does not directly provide mortgage loans. Banks will process FNMA loans which are then underwritten by the bank but guaranteed through FNMA. FNMA handles foreclosures for these mortgages and consequently may end up managing some of these properties, […]


197 ITNS FAQ ENTITY NPO Does a Non Profit Organization need a Tax ID EIN

Does a Non Profit Organization need a Tax ID (EIN)?

A non profit organization considered to be tax-exempt for the purposes of federal taxes. But that doesn’t mean that the non profit organization doesn’t need a tax ID. The organization is still going to have to file tax reports, it’s just not going to have to pay taxes on its own. Further, the non profit organization […]


195 ITNS FAQ ENTITY ESTATE How to Open a Bank Account for a Bankruptcy Estate Individual

How to Open a Bank Account for a Bankruptcy Estate (Individual)

As an individual, when you declare bankruptcy, a bank account will be opened for your bankruptcy estate. This bank account will be used to manage your assets, liquidate necessary assets, pay off your debts, and dissolve your debts. Your bankruptcy trustee will be in charge of this bank account and will manage your assets for […]


194 ITNS FAQ ENTITY NPO Does a Block Tenant Association need a Tax ID EIN

Does a Block/Tenant Association need a Tax ID (EIN)?

A block/tenant association will usually need an EIN, though it’s not strictly a requirement. An EIN is something that is optional that a block/tenant association can acquire after formation, but without an EIN it would be impossible for the association to: create business bank accounts, hire employees, get permits and licenses, acquire lines of credit and loans, […]


192 ITNS FAQ ENTITY NPO Does a Memorial or Scholarship Fund need a Tax ID EIN

Does a Memorial or Scholarship Fund need a Tax ID (EIN)?

A memorial or scholarship fund is a separate investment entity that holds its assets to disburse to those who are awarded scholarships. Many people will make a memorial or scholarship fund in memory of someone close to them who has passed. This scholarship fund might give small amounts out to many recipients, large amounts out […]


191 ITNS FAQ ENTITY TRUST Does a Guardianship need a Tax ID EIN

.Does a Guardianship need a Tax ID (EIN)?

Also known as a conservatorship, a guardianship occurs when an individual is no longer able to make sound financial and legal decisions on their own behalf. When a guardianship occurs, the guardian themselves do not take hold of the assets, they merely control the assets. The assets still fall under the individual’s own SSN/ITIN, so no […]


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