What is an EIN?
An Employer Identification Number (EIN) is a unique nine-digit number issued by the Internal Revenue Service (IRS) to businesses for identification purposes. It is known by various names:
- Federal Tax ID Number
- Employer Identification Number (EIN)
This number is necessary for a business to legally operate, file taxes, and open a business bank account.
How to Obtain an EIN in Illinois
By submitting an online application, you can quickly obtain an EIN for your Illinois business. The process is described as Easy, Fast, and Secure.
Apply Online for Free
There is no cost to get an EIN, as the number is federal and the IRS does not charge for issuing it.
- To apply online, select your entity type and fill out the EIN Online Application form.
- Note that the online application requires completion in one session, as it can’t be saved for later.
Additional Requirements
If your company operates regularly in Illinois, you will also need an Illinois tax ID number for state taxes. Applicants from outside the United States, who don’t have a U.S. social security number, cannot apply online and must print the SS-4 form instead.
Important Deadline
Keep in mind that the online application for an EIN is only open Monday to Friday, 7 am to 10 pm Eastern Standard Time. Your application session will expire after 15 minutes of inactivity.
EIN Use and Application Details
Uses for an EIN
An EIN allows you to handle various tax-related tasks:
- Opening an LLC business bank account
- Filing federal, state, and local tax returns
The Illinois EIN number is used for federal tax forms, whereas the Illinois state tax number is intended for state taxes, including sales and withholding taxes.
Important Notes
Your assigned EIN never expires and is never duplicated, even if you go out of business. The federal EIN application process can be done through the IRS website using Form SS-4 or by mail.
Steps to Apply
- Choose the correct entity type for your business.
- Complete the EIN Online Application form on the IRS website.
- Ensure you have all necessary information about your business on hand.
- Be prepared to finish the application in one go, since the session cannot be saved.
Following this guide will help you navigate the application process for an EIN in Illinois, equipping you with the knowledge to set up your business within the legal and financial frameworks.