A Federal Employer Identification Number, nicknamed as EIN or FEIN, is a unique nine-digit number. This number help the IRS to identify your business or organization. You can use this EIN so as to file and pay your business tax return.
Who needs to have an EIN?
You need to have an EIN, due to the following reasons –
- Your business has employees apart from you.
- Your business is a corporation (such as sole proprietorship or estate etc.). Even a single member LLC is required to have an EIN if it is going to hire employees.
- If your business offers a Keogh pension plan.
- Your business withholds taxes on income, apart from the wages, paid to a non-resident alien.
- If your involved in any of the following administration such as – trusts, real estate mortgage investment conduits, non-profit organization or plan administrators.
How one can find EIN of the business or an organization?
If you have already received your EIN and have misplaced it. In that case, there are number of ways in which one can retrieve EIN of the business or an organization –
- You need to look back at your records to see if you have the printed notice from when you have applied for an EIN. The IRS does not mail these types of notices, so you will need to have print out of this if you have it in hard copy.
- You can call the IRS Business & Specialty Line so as to retrieve the EIN.
- You can contact your bank if you have opened a bank account under the business name. As banks need to require an EIN before opening the bank account, so they likely have it on hand.
- Your EIN is very important for filing the Tax Return. So you can retrieve your EIN by reviewing an old Tax Return for your business or organization as they have an EIN printed on it.
How to get an EIN of the organization Online?
Getting an EIN of the organization Online is something you can handle it yourself. It is free and easy to get an EIN for the business or organization. This is one of the fastest method for applying an EIN. In order to apply for an EIN online, one must need to fill the application Form SS-4 from the IRS website first between the hours of 07:00 AM to 10:00 PM (Eastern Time) from Monday to Friday. The online application for an EIN will take 10 minutes to complete the application form.
To qualify to use the online application mode for applying the EIN, your company need to be in the US. The person who are applying for an EIN online need to have a valid Taxpayer Identification Number (i.e. SSN, ITIN and EIN). Apart from all these one need to complete the Application Form SS-4 in one session as you will not be able to save and return at a later stage of the application. In case your session get expired due to the inactivity for more than 15 minutes, then you need to start over again from the beginning. Once the application Form SS-4 is submitted, individual can get an EIN instantly once your details have been validated. You may then download, save and print your EIN confirmation notice once you have validated all the details in the application form.