Summary: How To Obtain EIN (Federal Tax ID) An Employer Identification Number (EIN) is used to identify a business for tax purposes with the Internal Revenue Service (IRS). An EIN is similar to a social security number for your business. Every business, except for certain sole proprietorships that do not have any employees, should have such EIN. Certain nonprofit organizations such as churches, clubs, trusts, and estates, and others, must also have an EIN. A business is required to obtain a Federal Employer ID Number if it hires employees or meets other IRS guidelines. In addition, banks usually require businesses to obtain an Employer ID Number prior to opening a business bank account. Other names EIN also known as the Tax Identification Number (TIN), Federal Employer Identification Number (FEIN), or Federal Tax Identification Number. The EIN is a unique nine-digit number assigned by the Internal Revenue Service to business entities operating in the United States for the purposes of identification. When New EIN Is Not Required Following is a list of business events that do not require getting new EIN, however they might require notifying the IRS about the change: You change the name of your business. You change your location and/or add other locations. You operate multiple businesses under one entity. The surviving corporation uses the existing EIN after a corporate merger. A corporation declares bankruptcy. A C-Corporation chooses to be taxed as an S-Corporation. An existing partnership converts to an LLC classified as a partnership. An LLC that already has an EIN chooses to be taxed as a C-Corporation or as an S-Corporation. A new LLC with one owner (single member LLC) is formed under state law, does not choose to be taxed as a corporation or S corporation, and has no employees or excise tax liability. Applying for EIN https://www.myusacorporation.eu/ein.html
