An EIN is a nine-digit number used by the IRS to identify your business. An EIN also helps open a business bank account and obtain licenses. Several organizations need an EIN, including LLCs, partnerships, and corporations. Get your EIN when starting your business or paying employees.
Applying for an EIN
To get an EIN, apply on the IRS website. The application is free. You’ll receive your EIN immediately if applying online or by phone. It takes 4 weeks for mail and 4 days for faxed EIN applications.
As an LLC, you need to fill out a form for New York State. List new address and member information if it’s you alone.
Those without Social Security Numbers can still get an EIN. The process is quick and easy.
After You Get Your EIN
Once you have received your EIN, you can begin using it for your business activities. You need it to pay federal taxes, hire employees, open a bank account, and apply for business licenses and permits.
Keep your EIN safe. This is the quickest way to obtain an EIN number; apply Monday – Friday from 7am – 10pm EST.
An Employer Identification Number (EIN) is your business’s nine-digit federal tax ID. Use your EIN when paying taxes, hiring employees, opening business bank accounts, and obtaining licenses. Keep your EIN safe. Even dissolved businesses retain their original EIN for identification.
Call the IRS Business & Specialty Tax Line to verify an EIN number.
EINs identify non-profits too, but separate IRS filings are necessary for tax-exempt status. Each chapter of a national group needs its own EIN. The IRS website provides information on non-profits’ assets, liabilities, and status.