The easiest way to get an Employer Identification Number

An EIN (Employer Identification Number) or federal tax ID is a unique 9-digit number assigned to a business by the IRS. An EIN allows the IRS, banks, credit card companies, and other institutions to track your business and personal finances separately. You need an EIN to file business taxes, hire employees, and open a business bank account.

Related: How to Get a Free Fax Number Online

Many new business entities will need an EIN (Employer ID Number), sometimes called Tax ID Number. This includes corporations, partnerships, S corporations, non-profit organizations, many limited liabilities companies (LLCs), and certain sole proprietorships. An EIN is required to hire employees and, in most cases, to open a business bank account.

An EIN helps establish that you and your business are separate entities, which helps preserve limited liability should your company ever be sued. Having an EIN is one more way to demonstrate to the courts that you are treating your business as a separate entity from yourself.

An EIN prevents you from having to give your Social Security number to suppliers or lenders, which significantly reduces the risk of identity theft.

The EIN is typically obtained within 24 to 48 business hours after the formation is completed. However, if there are delays from the IRS, it can take up to 6 to 8 weeks.

Yes, you can use your SSN, your Individual Taxpayer Identification Number (ITIN), or another EIN to apply for an EIN.

Yes, the EIN is included in the Pro Plan as well as the Premium Plan.

Once the EIN is obtained, it is uploaded to the customer’s dashboard and can be found in the Business Profile section or the Documents section.

Most banks require an EIN for opening a business bank account. If you don’t have an EIN yet, you may need to wait until it is processed and available.

If you don’t have an SSN, you will need to fill out an SS-4 form and mail it to the IRS for processing. This can take 6-8 weeks, so it’s recommended to start the process as early as possible.

Unfortunately, there is no way to expedite the EIN processing time. It is entirely up to the IRS and can take anywhere from 1-2 business days to 6-8 weeks, depending on various factors. However, you will usually receive your EIN immediately when applying online.

That depends on the type of business entity you have and other factors. All corporations, businesses with multiple owners, and businesses with employees will need an EIN. Sole proprietors and single-member LLCs with no employees may not need an EIN unless they meet any of the other IRS criteria for requiring an EIN.

No, each business needs its own unique EIN. If you have multiple businesses, you will need to obtain separate EINs for each one.