An EIN number is a nine-digit number that is assigned by the IRS. It is used to identify businesses and other entities for tax purposes.
EIN numbers are also sometimes referred to as “taxpayer identification numbers” or “TINs.”
Businesses that are required to have an EIN include corporations, partnerships, limited liability companies, and sole proprietorships. Some nonprofit organizations are also required to have an EIN.
Applying for an EIN is a relatively simple process. You can apply for one online and receive one within 24 hours.
Do I Need an EIN?
If you are starting a business or nonprofit organization, you will need to obtain an EIN.
You will also need an EIN if you are opening a bank account for your business, applying for business licenses or permits, or filing tax returns.
You will definitely need an EIN if you intend to hire people. An EIN can also help you get wholesale products for your business.
You don’t need an EIN if you’re an individual running a business as a Schedule C sole proprietor.
How Do I Get an EIN Online?
It’s easy to apply for an EIN online. You can do so through a private company that provides EIN application services.
Applying for an EIN online is simple and only takes a few minutes. Just follow the instructions on the website and have your required information ready.
You will need to provide your business name and address, the names of the business owners, the type of business entity, and other basic information.
Once you have submitted your application, you will receive your EIN within 24 hours.
How Can I Get an EIN by Phone?
You can also apply for an EIN by phone. When applying for an EIN by phone, you will be required to provide the same information as you would when applying online. But be aware that this could take a few active hours on the phone. It’s almost always better to apply for an EIN online.
How Do I Get an EIN by Mail?
You can apply for an EIN by mail, but it’s not recommended. Applying for an EIN by mail will take significantly longer- about 4 to 6 weeks- and is more complicated than applying online or by phone. If anything is wrong on your form, you’ll find out 4 to 6 weeks later and will need to begin the process from scratch.
How Else Can I Get an EIN?
Technically, you can get an EIN through fax. But people rarely do this because it takes a long time, you need access to a fax machine, and you may not be aware of the status of your EIN for some time.
What If I Forget My EIN?
If you forget your EIN, there are a few ways to find it. The easiest way is to look at any tax return that you have filed for your business.
Your EIN should be listed on the return, usually near the top. If you can’t find it there, you can also contact the IRS directly and ask for your EIN.
You will need to provide them with some basic information about your business, such as your business name and address. The IRS may also ask for your Social Security number or the names of the business owners.
Once you have your EIN, be sure to keep it in a safe place. You will need it any time you file taxes or apply for business licenses or permits.
Is My EIN My SSN?
No, your EIN is not your SSN. Your EIN is a nine-digit number that is assigned by the IRS. Your SSN is a nine-digit number that is assigned by the Social Security Administration.
You will need to provide your EIN when you file taxes or apply for business licenses or permits. You will need to provide your SSN when you apply for a credit card, loan, or other financial product.
That being said, there are forms that will ask for an EIN or an SSN. If you’re a sole proprietor filing a schedule C, your SSN can be used in place of your EIN. But they aren’t the same thing.
Can I Change My EIN?
You can file to change your EIN if your business structure has changed. But changing an EIN can be a complicated process and it’s usually not necessary. If you don’t have a good reason for changing your EIN, it likely will not be allowed.
How Long Does an EIN Last?
An EIN is a permanent identifier; it will last as long as the business does. The goal of an EIN is similar to that of a SSN. Not only does it make it possible for you to do business, but it also makes it possible for the government to track your business. This enables the tracking of things like sales taxes and employment taxes. An EIN can also contribute to your organization’s credit score, which is a separate rating from your own credit score and which can help your business procure funding.
Can I Get an EIN If I’m Not a US Resident?
Yes, you can still get an EIN even if you’re not a US resident. The process is the same as it is for US residents.
You will just need to provide your business name and address, the names of the business owners, the type of business entity, and other basic information.
An EIN is an important part of starting and running a business. Be sure to get one as soon as you can so you can get started on the right foot. You can file for an EIN online today.