But you might need an EIN when you start your business and apply for a business checking account. You might also need one if you're applying for a business license. Go to the IRS website and print out the form, then answer the questions first even if you're planning to apply online. The online application process takes just a few minutes, and you'll receive your EIN immediately after the application is completed and submitted.
The IRS has limited Form SS-4 submission to one per day since , and this rule covers all submissions, whether they're made online, by fax, or by U. Simple changes to your business usually don't require a new EIN, but you might need a new one if you change your legal business structure, such as from a corporation to some other entity or from a sole proprietorship to a corporation.
Special rules apply to tax-exempt organizations.
Federal Employer Identification Number
The IRS recommends that you make sure your organization's business structure is firmly nailed down before you apply for your EIN. This is because you can lose your tax-exempt status if you make certain mistakes within three years, such as failing to file a return. Nellie Akalp is an entrepreneur, small business expert, speaker, and mother of four amazing kids. Akalp is nationally recognized as one of the most prominent experts on small business legal matters, contributing frequently to outlets like Entrepreneur, Forbes, Huffington Post, Mashable, and Fox Small Business.
Step 1: Determine Your Eligibility
A passionate entrepreneur herself, Akalp is committed to helping others take the reigns and dive into small business ownership. Through her public speaking, media appearances, and frequent blogging, she has developed a strong following within the small business community and has been honored as a Small Business Influencer Champion three years in a row. Related Posts.
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Employer Identification Number (EIN) Definition - Entrepreneur Small Business Encyclopedia
Advising Clients About Business Structures. How to Legally Start an eCommerce Business. Starting a Business in Nevada. Give us a call Call to get started. See pricing options View sample. Sole proprietors may use a federal tax ID to help keep their own Social Security numbers private. A business uses its federal tax ID much like a person uses a Social Security number.
How to Apply for an EIN Number | Online EIN Application
For instance, it can help protect against identity theft, and it's often a prerequisite for opening a business bank account. View More. Our agents are based in the United States. An offer of membership in our legal plan is not an endorsement or advertisement for any individual attorney.
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