How to obtain a company’s EIN (Employer Identification Number)
What is an Employer Identification Number?
Before we dive into the process of obtaining an EIN, it’s important to understand what an EIN is and why you need one. An EIN is a nine-digit number that identifies your business for tax purposes. It is used by the IRS to keep track of your business’s financial transactions and to ensure that you are paying taxes correctly.
EINs are required by law for certain types of businesses, including corporations, partnerships, and limited liability companies (LLCs). If your business meets certain criteria, such as having employees or renting office space, you will need an EIN to open a bank account, apply for business licenses and permits, and file taxes.
How to Obtain an EIN
There are several ways to obtain an EIN, depending on your location and the type of business you have. The most common method is to apply online through the IRS website. This is the fastest and most convenient way to get an EIN, and it’s available 24/7.
To apply for an EIN online, you will need to provide some basic information about your business, including its legal name, address, and state of incorporation. You will also need to provide some personal information about the person who will be responsible for signing the EIN application. Once you have completed the application and provided all the necessary information, you can submit it online and receive your EIN immediately.
Another way to obtain an EIN is by mail. If you prefer to apply by mail, you will need to download the appropriate form from the IRS website and print it out. You will then need to fill out the form with the necessary information and sign it. Once you have completed the form, you can mail it to the IRS office that processes EIN applications for your state. Processing times for mail-in applications can vary depending on the state, but they usually take between two and four weeks.
If you are unable to apply online or by mail, you may be able to obtain an EIN in person at an IRS office. To do this, you will need to make an appointment and bring the necessary documents with you. The documents required for an in-person EIN application include your business’s legal name, address, state of incorporation, as well as proof of identity for the person who will be signing the application.
Tips for Obtaining an EIN
- Make sure you have all the necessary information before you start the application process. This includes your business’s legal name, address, state of incorporation, and any other relevant details.
- Double-check that you have provided all the correct information on your EIN application. Inaccurate or incomplete information can result in delays or even rejection of your application.
- Be prepared to provide additional documentation if requested by the IRS.