Are you trying to establish your own business with sales and purchase of goods though you should have an EIN number for running your own business? If yes, then you are reading the right thing that having an EIN will help you a lot in keeping the records of your business entities. Although, this is the Employer Identification Number that will be provided by the IRS.
There are many ways through which you may apply for an EIN. If you are unable to find an employer identification number, then no issue, we will surely help you here with better and convenient answers. Before proceeding with getting a new EIN, you should get familiar first detailed information about EIN.
What is an EIN?
EIN is the Employer Identification Number which basically tells you the identity of your business entity. This is needed to file the business taxes. An employer ID is assigned by the IRS or the federal government. As well as when you are creating trust, hiring employees, opening a business bank account you should need to have an employer ID.
To apply for a new EIN, firstly you should have a SSN number if you don’t have it you won’t be eligible to apply for a new EIN. Employer number is basically for business entities like LLC and corporations etc. It will not require if you are a sole proprietor and running your business only by yourself and no one is involved in your business or you do not have any staff or employees.
How to get a new Employer Identification Number?
There are multiple ways to obtain an employer id. Really, you are entitled to a new EIN only if you have the SSN which is the social security number. If the business owner does not have the SSN, they are not eligible to request a new EIN. Thus, firstly you need to have your SSN for running the business.
You can get a new employer identification number through Call, Mail, Fax or Online you need to fill up the Form SS-4 in each of the method.
Can I apply for getting a new EIN Online?
Yes, surely you can apply for having your employer application Online. If you are in confusion that it might be a difficult process though don’t worry it is basically not. You have to just visit the portal of IRS and have to fill in the information part about your business like –
. Business name
. Business type
. Address etc.
After filling in all the accurate information regarding your business for which you want to build, just submit the application form SS4 to the IRS.
This is the easiest way to get your employer number within a few quant of time. Apart from this, there are many other ways to get a new EIN but they are quite time-consuming.
Ways to get a New EIN
There are many ways to get a new EIN. Go through all the ways and surely you would get your new employer ID as soon as possible. But different methods have different quant to get your new employer ID.
Visiting on IRS Portal – Go through the IRS portal, fill in the complete details of your business entity and submit them to get your new employer ID. It will take a few minutes or hours to give your employer Number.
By Mail – If you are proceeding with the mail process, then you are entitled to download the Form SS-4 first and have to fill it up the application form with accurate information and mail it to IRS. It takes nearly four weeks to get the EIN after submitting a request to get a new employer identification number.
By Fax – In order to apply for Employer ID by Fax, you need to fill the Form SS-4 and have to fax it to the given address for getting your new EIN number. Getting your new EIN, will take four business days through fax. You need to send your application Form SS-4 to the following address –
Internal Revenue Service,
Attn: EIN Operation,
Cincinnati, OH 45999
By Calling – Can get your employer number by calling on the IRS specialty number between 6 am to 11 pm from Monday to Friday Eastern Time.
Why it is required to have an Employer ID Number?
This is the mandatory information, which is needed by the business entity to know. Yes, an employer ID Number is always required to file business taxes. There are many reasons for which you need to have the EIN. Since this is an Employer Identification Number, means this is giving the information regarding your business to the IRS.
. If you are up to start a new business, then you need to have an Employer Identification Number.
. Furthermore, if you are a sole proprietor and you need employees in your business including household employees then you must have an employer ID.
. For banking purpose, Employer Number is required to open a business bank account.
. If you also want to open a business line of credit, then you need to have the Employer Number.
. If you do have a partnership, LLC, Pension plan, then you will need to have an EIN.
. Along with this, if you have formed or created a trust, then you need to have an EIN.
. If you are operating an estate business, then you need to have an EIN.
So, this is the complete information regarding getting a new EIN so as to start your business. So, just proceed ahead with applying for your new EIN as soon as possible. We have already given you multiple ways to get your new EIN number. If you face any issues in getting your EIN, then get our support to be in the better corner of help.
Also Read – How to apply for EIN Number?