Do You Need An EIN

Which businesses need Employer Identification Numbers?

All businesses, from single-employee small businesses to Limited Liability Companies (LLCs) to mega-corporations, need EINs; if you’re starting a new business, you’ll need to obtain one. Even if you’re the only employee of your business (self-employed), you’ll still need an EIN to open a business bank account, apply for business licenses and permits, file business tax returns, or apply for business loans or credit. Having an EIN gives your business the opportunity to:

    Open a business bank account
    Apply for business licenses and permits
    File business tax returns
    Hire employees
    Apply for business loans or credit

How do you obtain an Employee Identification Number?

Obtaining an EIN is a simple process that can be done online, by mail, even by fax. The quickest and easiest route is applying online here. The process can be completed in as little as 15 minutes, and you’ll receive your EIN immediately upon completion. If you have any hiccups and cannot complete it online, utilizing mail or fax can take up to four weeks to complete.

Before you begin your application, you’ll need a valid Social Security Number (SSN) or Individual Tax Identification Number (ITIN). If you’re a foreign national and don’t have an SSN or ITIN, you’ll need to apply for an ITIN before applying for an EIN.

Step 1: Determine Your Eligibility

You may apply for an EIN online if your principal business is located in the United States or U.S. Territories.
The person applying online must have a valid Taxpayer Identification Number (SSN, ITIN, EIN).
You are limited to one EIN per responsible party per day.
    The “responsible party” is the person who ultimately owns or controls the entity or who exercises ultimate effective control over the entity. Unless the applicant is a government entity, the responsible party must be an individual (i.e., a natural person), not an entity.

Step 2: Understand the Online Application

You must complete this application in one session, as you will not be able to save and return at a later time. 
Your session will expire after 15 minutes of inactivity, and you will need to start over.

Step 3: Submit Your Application

After all validations are done you will get your EIN immediately upon completion. You can then download, save, and print your EIN confirmation notice.

Once you have your EIN, it’s essential to keep it secure and use it only for business-related matters. You’ll need to provide your EIN to your employees, your bank, and other businesses you work with. You’ll also need to use your EIN when filing your business tax returns. If you have your EIN and now you’re ready to start thinking about Government Contracts and Business Credit, just let us know at 8339446292.