Category: EIN

When starting a business, there are many steps to consider, one which is vital is obtaining an Employer Identification Number (EIN), often referred to as ‘tax ID’ for the company. This is where IRS form SS-4 comes into play.

If you are planning to set up a corporation in the United States or wish to manage your business from there, knowing what form SS-4 is and how to accurately file it is very important.

In this guide, you will learn everything you need to understand about Form SS-4: its purpose, who requires it, how to file it, and ways to avoid making mistakes.

This article aims at U.S citizens and foreign entrepreneurs alike, providing all the specifics on the EIN application process and guiding them through the steps.

What is Form SS-4?

An official form prepared by the Internal Revenue Service (IRS) having an Employer Identification Number (EIN) allocated to it is known as Form SS-4. This pertains to the business entity or different organizations therein.

An IRS-issued number, an EIN is basically a business identifier to be used for taxation and other monetary transactions which require business identification. You could say it’s like a Social Security Number (SSN) for a business.

The EIN is relevant to many aspects of a business, such as a federal tax return, a business bank account, hiring, as well as licenses and permits. To obtain this important number, one must file Form SS-4 first.

The form can be used by more than just businesses; it includes trusts, estates, nonprofit organizations, and other entities requiring a federal tax ID. Filing Form SS-4 ensures the IRS can adequately link the entity to its pertinent tax responsibilities.

Why is Form SS-4 Important?

Form SS-4 serves as the basis in establishing your business with the federal state. Some relevant areas why this particular form is crucial is the follow:

1. Allows Submission of SS-4 Application for Start-Ups

There are a number of situations when there is no other legally accepted way to acquire the number and meet various activities. The business cannot function without the number nor meet its legal obligations.

2. Must Cover Tax Obligations

An EIN is needed if the company intends to submit federal pay taxes, employment taxes, or excise taxes. It helps the IRS track the company’s submissions and payments.

3. Important for Reporting Employee Taxes

In case you intend to employ people, having an Employee Identification Number (EIN) is a prerequisite for reporting employment taxes to the IRS and filing W-2 and 941 forms.

4. Important for Creating Bank Accounts

In the United States, almost all financial institutions require an existing business checking or savings account for an EIN, including companies that are foreign owned and controlled.

5. Important for Obtaining Business Credit

Business loans, credit cards, and trade credit accounts are applied under the name of the business, making the business EIN important. This helps distinguish personal credit from the business.

6. Important for Applications of Some Permits and Business Licenses

Specific industries and geographic locations have stringent local or federal licenses and permits, many of which require an EIN.

To summarize, Form SS-4 enables you to conduct business in the United States in a more streamlined manner.

Who Needs to File Form SS-4?

There are numerous entities, whether an individual or a business that do not require the filling of Form SS-4, however, there are some that do have the need to complete this form. You need this form to be filled if your business falls under any of the following classifications:

1. Newly Established Business Firms

In the events that you are planning to start a Limited Liability Company (LLC), corporation, partnerships or any business structure, you are required to obtain an EIN through Form SS-4. This will serve as the preliminary steps towards legally registering your organization.

2. Foreign-Owned Companies

Any businesses, either sponsored or owned by foreigners seeking to conduct business in the U.S or wishing to open bank accounts or fullfill tax liabilities need to fill out the form SS-4. These also include the individuals as well as non-US companies.

3. Companies Planning to Recruit Workers

Those businesses who intend to recruit workers within the organization, whether immediately or in the future, need to have an EIN as mandated by the IRS prior to going through the process of recruitment.

4. Businesses with Certain Federal Tax Responsibilities

Other businesses are mandated to have an Employer Identification Number – EIN if they are needed to pay federal excise taxes, employment tax returns, or control retirement plans. Additionally some sole proprietorships are obligated to apply if they have more extensive tax reporting obligation.

5. Trusts, Estates, and Other Non Profit Organizations

Alongside businesses, Form SS-4 is also required for Trusts, estates of deceased individuals, and nonprofit organizations for tax reporting purposes. These entities are also required to hold an EIN.

6. Other Banking and Legal Requirements

Other companies seem to obtain an EIN regardless of their taxation or employment status, just so they can open a bank account in the US or enter into legal agreements.
So in other words, if your entity makes an application for a tax id number, you will need to fill out and submit Form SS-4.

Information Required to Complete Form SS-4

Completing Form SS-4 is a simple and straightforward process so long as all the required information is ready beforehand, here is a detailed outline of the documents needed.

1. Legal and Trade Name

You should submit all required names for your business: its legal name, and any trade name(s) used. Therefore do not forget to write the name exactly as it is registered at the state level.

2. Business Address

All businesses are required to provide contact details, including an address. Regardless of where a business is located, be it outside the US, it can still apply to have its address formatted correctly.

3. Responsible Party’s Information

You must name a responsible party, usually the individual who owns or controls the business. For U.S. Persons, this involves providing a full name along with a Social Security Number (SSN) or Individual Tax Identification Number (ITIN). Foreign nationals may need to submit a passport number or another form of identification if applying by fax or mail.

4. Entity Type

Mark the box that corresponds to the legal form of your business: LLC, Corporation, Sole Proprietor, Trust, Estate, etc. For an LLC, provide the default number of members and indicate if corporate tax treatment is elected.

5. Reason for Applying

Clearly explain the purpose for which an EIN is needed. Common purposes include starting a new business, banking, employee hiring, or restructuring an existing organization.

6. Start Date

Indicate when your business was legally established or acquired. This allows the IRS to ascertain the date for your tax obligations.

7. Employee Information

Estimate the number of employees you plan to hire over the next year and whether those employees’ wages will be subject to federal income tax withholding.

8. Business Activity

Indicate the primary business sector your company is involved in. The example, “E-commerce retail of clothing and accessories,” is more informative than “retail” and is preferable.

9. Contact Details

Provide an individual’s name along with their direct telephone line, and if available, their fax number for communication with the IRS.

This information, if filled out correctly, will help facilitate the processing of an EIN application.

How to File Form SS-4

Your location, either in the U.S. or abroad, determines the method of filing Form SS-4. Below are the methods of filing:

1. Online (Fastest—U.S. Applicants Only)

As an American business or a resident with a SSN or ITIN, you can submit your application using the IRS EIN Assistant:

• Visit: IRS EIN Online
• The services are available on Monday to Friday from 7:00 a.m. to 10:00 p.m. Eastern Time.
• The EIN is generated immediately after the form is submitted.

Important: Application online is limited to U.S. residents with SSN or ITIN. Foreign individuals cannot use this option.

2. Fax (For Both U.S. and International Applicants)

Completing Form SS-4 and faxing it directly to the IRS is another option you can use:

• U.S-based entities: Fax to 855-641-6935
• International entities: Fax to 304-707-9471 (non-toll-free)

The IRS fax application requests will be processed within 4-7 business days, and the EIN will be sent by return fax.

3. Mail (Slower Option)

Filing to the following address is an option for those who do not wish to use fax or phone:

Internal Revenue Service
Attn: EIN Operation
Cincinnati, OH 45999
USA

Processing time for applications sent through mail may take 4 weeks or longer especially bound for international destinations.

4. Phone (Only for International Applicants)

Individuals and businesses outside the United States who wish to obtain an EIN can do so by calling the IRS at their direct line:

• +1-267-941-1099 (Not toll-free)
• They are available Monday to Friday, from 6 AM to 11 PM ET.

An IRS officer will assist in completing Form SS-4 during the call and will, as long as all details are accurate, grant the EIN immediately.

Common Mistakes To Avoid

Though applying for an EIN via Form SS-4 might appear straightforward, lack of attention to detail can result in denial or significant delays. Refrain from these common errors:

• Omitting the reason for applying
• Using an SSN or ITIN of an uninvolved individual instead of the responsible party’s SSN
• Filing multiple times for the same business
• Misclassifying business structure
• Using the wrong name, address, or entity name
• Omitting or providing contradictory details

Always verify the completed form before submission and consider obtaining professional assistance to sidestep complications.

Need Help Filing Form SS-4?

At Bizstartz, we are dedicated to assisting business owners and entrepreneurs globally and domestically reap the benefits tied to acquiring an EIN, which is facilitated through our trademarked service.

Regardless if you are establishing an LLC, C Corporation, or foreign-owned entity, our professionals will take care of the filing and document verification with the IRS.

No need for an SSN or ITIN. We can assist you in acquiring an EIN without stress.

👉 What is your next step in acquiring an EIN?

Get in touch with Bizstartz now and let our professionals do the work for you!

Final Thoughts

Your business’s legal and financial operations in the United States commence with Form SS-4. You will require filing this form and an EIN if you wish to have employees, a bank account, rent a location, or receive services from the IRS.

Though you can choose to file it by yourself, enlisting aid from a professional ensures timely delivery with no holdups. Bizstartz is dedicated to helping entrepreneurs worldwide by choosing us. We take pride in facilitating accurate business formation and compliance.

Having accurate paperwork can help start your business confidently.

When it comes to operating a business within the United States, one of the more underrated forms of documentation is the IRS 147c Letter which, just like any other business document, has its own specific purpose.

If you have, at any point, tried validating your Employer Identification Number (EIN) or required asserting your business identity to a financial institution, government agency, or even a vendor, the 147c Letter serves as an invaluable asset.

This guide will explain everything there is to know about the 147c Letter, detailing why it is important, what other people might request it, the processes involved in obtaining one, and the role of Bizstartz in helping you get it seamlessly.

What is a 147c letter?

This is a document that serves as proof confirming the association of an entity with an Employee Identification Number (EIN) issued by the Internal Revenue Service (IRS).

In simpler terms, the IRS 147c Letter is an official document issued by the IRS confirming the association of a business name and EIN for a company. It acts as an EIN verification letter when the original CP 575 EIN confirmation letter is misplaced.

Upon applying for an EIN, the IRS confirms your application by sending a CP575 notice, however this letter can be easily misfiled or lost, especially if you move houses, forgot to update files or delete files digitally. In those scenarios, the 147c Letter helps fill in the gaps.

The letter cannot be obtained online and needs to be requested from the IRS directly. It proves your EIN number and is in most instances accepted by banks and partnering businesses as sufficient identification of your entity’s legal existence.

What Information is on a 147c Letter?

A 147c Letter contains the basic identification details of your business extracted from the IRS records. Following is what the letter typically entails:

Business Legal Name: As filed with the IRS during the EIN issuance application.

Employer Identification Number (EIN): Your unique federal tax identification number consisting of 9 digits.

Business Address: Address registered with the IRS concerning your entity.

Entity Type: Whether your business is LLC, C Corporation, S Corporation, Partnership etc.

Date the EIN Was Assigned: Helpful in verifying applicable history for your business.

IRS Contact Information: Containing the IRS section and office telephone number in the instance additional confirmation is required.

When dealing with organizations and businesses that require government-issued documents and trustworthy identification, this document provides an undeniable assurance as well as an official confirmation of your EIN.

Who Would Request a 147c Letter?

Before providing services or approving applications, numerous agencies require formal verification of your EIN as a form of identification. Following are some examples of entities that are likely to request your 147c Letter:

1. Banks and Financial Institutions

While opening a business bank account with a corporation or applying for a loan, banks especially request for Proof of EIN. In case you have lost your CP 575, the 147c Letter can acts as a substitute.

2. Government Agencies

Local and state licensing departments often verify the EIN for registration purposes while issuing business permits, licenses or sales tax registrations. These departments frequently need to verify that your business is registered with the federal government.

3. Vendors and Suppliers

Particularly larger suppliers such as those providing credit or extended terms may use these to check if your business is registered with the IRS. They often seek to confirm that your business is legitimate and formally registered before any contracts are signed.

4. Payroll and HR Services

Tax reporting under the correct business entity is a requirement when onboarding employees, thus it is common for payroll providers to verify EIN prior to filing taxes.

5. Credit Agencies and Lendors

Lines of credit, business credit cards, and financing partners wish to see confirmed documentation of your EIN to validate your business identity and mitigate identity theft.

In all these matters, the 147c Letter serves as a confirmation of your business identity and registration with the IRS for a federal tax number.

Why is a 147c Letter Important?

The 147c Letter is much more than a mere formality. The letter is crucial in providing seamless functioning, while reducing bureaucracy in administrative processes.

Here are a few reasons why the 147c letter is important:

✅ Official EIN Verification

The only document issued by the IRS which can replace the CP 575 EIN confirmation letter is the 147c Letter. The letter serves as proof of an EIN and its validation comes from the IRS itself.

✅ Required for Business Operations

Bank account openings and licenses applications are governed by EIN verification. Without a 147c Letter or CP575, one may encounter several obstacles in various aspects of business operation or setup.

✅ Avoiding Delays and Rejections

Insufficient compliance in EIN verification is a common reason why banks, creditors, and even some government institutions may reject applications or delay processing. The possession of a 147c Letter means that you can readily meet such requests without frustrating delays.

✅ Peace of Mind and Compliance

In addition to helping with practical matters, the 147c Letter protects your business as it operates in compliance and in a manner that is credible with institutions that need to matter.

How To Request A 147c Letter From The IRS: Step by Step Guide

Acquiring a 147c Letter for the purpose of verifying your EIN is a very easy process as long as you follow the guidelines. To make the request as easy and streamlined as possible, make sure to follow the guide listed below:

Step 1: Prepare Required Information

Make sure that the essential information is in your possession to make the call to IRS. The details that you will need include:

• The business’s legal name (as registered with the IRS)
• Employer Identification Number (EIN)
• The address the IRS has on record for the business
• An explanation as to why the information is needed, example: confirmation of the EIN, bank requirements, etc.

Being armed with this information ensures that you will not face delays in the review process.

Step 2: Contact the IRS Business & Specialty Tax Line

To obtain your 147c Letter, you must contact the IRS directly at:

• Phone: 1-800-829-4933
• Hours: Monday–Friday, 7:00 AM – 7:00 PM (local time)

To request a 147c Letter, this is the only method that the IRS offers. Online and email requests are not accepted.

Step 3: Confirm Your Identity and Authorization

IRS representatives require you to verify your identity and your authority to act for the business, so once the line is connected, you will have to answer questions regarding.

Prepare the following:

• State your full name and position in the business (owner, partner, officer, etc.)
• Provide your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
• Provide any extra verification information that the IRS may ask for.

Only those listed as an authorized contact on the IRS record can request for this letter.

Step 4: Request the 147c Letter

After confirming your identity, inform the representative that you intend to request a 147c Letter confirming your EIN. At that point, you will be asked about your preferred method of receiving the letter.

• By Fax (Fastest Option): If you value speed, ask the letter to be sent via fax. Just ensure you provide a secure fax number.
• By Mail: In situations where a fax machine is not readily available, the IRS can send the letter through the postal service to the address on file.
• Note: This method in receiving the letter may take anywhere from several days to a few weeks, depending on postal delivery times.

Step 5: Confirm and Safeguard the Letter

• Review the document thoroughly to ensure there were no mistakes with the business name, address, and EIN number.
• Store the letter safely in case it is needed for business bank accounts, licenses, or other official documents.

If any discrepancies are identified, reach out to the IRS immediately to update the record.

What is the Process of Receiving a 147C Letter from the IRS?

After going through identity verification steps with the IRS, the requested letter will be sent through one of the following ways:

📠 Fax

In case you have access to a fax machine, the 147c Letter can be sent to you immediately after the phone call. This is the fastest way of receiving the document, which can come through within minutes.

📬 Mail

If a fax isn’t available, the IRS will be able to mail the letter to the business address in their records. This option takes 7 – 14 business days depending on your location and USPS delivery timelines.

Tip: It is extremely important to keep your IRS records current. If your address has changed and is not reflected in the IRS records, the letter is likely to be sent to the wrong location.

How Can Bizstartz Assist in Filing a 147C Letter

We at Bizstartz take pride in supporting business owners across the globe in registering and managing businesses in the US. Regardless of whether you are new in becoming a business founder or a seasoned business owner, dealing with the IRS is always complex, more so for overseas citizens.

This is precisely why we are here.

This is how Bizstartz will assist you with your 147c Letter:

✅ Interaction with IRS: We make the call to the IRS for you (with your permission), so you do not have to sit on hold or pass through screens of menus.

✅ Fast Deliveries: We guarantee fast delivery either by fax or mail of the 147c Letter.

✅ Bilingual Support Worldwide: We help foreign non-residents and foreign entrepreneurs cope with IRS paperwork in a timely and hassle-free manner.

✅ Other Services: If you require more than just a 147c Letter, we also provide EIN registration, ITINs, BOI filings, bookkeeping, provide registered agent services and set up US bank accounts – all in one place.

Reducing the frustration associated with compliance is our number one goal so you can concentrate on what is important, expanding your company.

Get Your 147c Letter with Minimal Effort

If you need quick verification to keep your business operations running smoothly, or have misplaced your EIN letter, don’t hassle with the IRS’s long wait times. With Bizstartz, you get the value of having the entire process handled with expert oversight, all while being guided securely and efficiently through every stage of the procedure.

👉 Reach out to us today for more information on requesting your 147c letter and to find out about other services related to business compliance in the United States.

Commonly Asked Questions

Is it possible for me to place an order for a 147c Letter on the internet?

No. There is no online option provided for requesting a 147c Letter and it must be done over the telephone with the IRS Business & Specialty Tax Line.

How long does it take to receive the letter?

If the letter is sent by fax, you’ll have it in your hand immediately after the call. If you are mailed, it may take between 7 – 14 working days for you to receive it based on your geographical location and the postal service.

What’s the difference between the CP 575 and the 147c Letter?

The CP 575 letter is the original EIN confirmation letter that is issued when you apply for an EIN. The 147c letter is a reissued confirmation but serves as a valid substitute when CP 575 is lost.

Can I have someone else call the IRS for me?

The request can only be made by someone who is listed as an authorized person in the IRS records (like a business owner or an officer). As for now, Bizstartz is able to help you with this as long as you give them the right instructions through IRS Form 2848 or 8821.

Will banks accept a 147c Letter to open an account?

Yes. A 147c Letter is most accepted by banks in the US as proof of EIN Quote when opening a business account especially where CP 575 is unavailable.

Starting or growing a business in the USA comes with many steps, one of the first being the application for an Employer Identification Number (EIN).

This ventilating number is essential for everything from setting up bank accounts to settling tax obligations. But what is an EIN now and why is it such a big deal, especially for foreign business owners?

In this detailed guide, we will dig into the aspect of what is an EIN Number and who qualifies for it, how one can acquire it, and what services such as Bizstartz can provide to simplify the process.

What is EIN Number?

An Employer Identification Number (EIN) is a 9-digit number issued to business organizations in the United States by the Internal Revenue Service (IRS) for identification purposes. Although, it is usually likened to a Social Security Number (SSN), but this time, it is for a business.

An EIN enables tax authorities in the U.S. and other government institutions to monitor the taxation and financial activities of the business.

The number is in the format of XX-XXXXXXX and is distinct to your business. It serves as a perpetual identifier number for your company even if the company’s name or location changes.

Every kind of entity use the number; LLCs, corporations, nonprofits, partnerships and even some sole proprietorships.

Here are other names that are commonly used in place of EIN:

• Tax Identification Number
• Employer Identification Number (FEIN)
• Business ID Number

Why is an EIN Number Required:

1. To Open a Business Bank account.

To Open a Business Bank account with financial institutions, a verified EIN is a prerequisite. This creates a financial barrier between your personal and business activities. Having a business account not only makes financial tracking more seamless, it also improves the company’s reputation with customers, investors, and suppliers.

2. Hiring Staff

If any time in the future your business is going to expand its workforce, then an EIN is mandatory. The IRS utilizes this number to manage employment-related taxes such as Social Security and Medicare. Also, all tax payments related income withholdings, an EIN is a must. Without an EIN, a business cannot legally employ personnel in America.

3. Paying Federal and State Taxes

An EIN is an important requirement for the payment of corporate or partnership taxes together with income and payroll taxes as well. It is also required for the acquisition of some local permits such as sales tax or franchise tax registration. Businesses claim to use their EIN to report income, expenditures and tax obligations during the year.

4. Getting Licenses and Permits

Business licenses and permits, no matter if they are federal, state, or local, normally require an EIN to process. This covers specific licenses pertaining to industries such as healthcare, transportation, and food services.

5. Establishing Business Credit

Having an EIN allows your business to create its own credit profile distinct from your personal credit history. This is crucial if you intend to seek loans, credit cards, leases, or vendor financing in the name of your business.

6. Meeting Compliance Requirements

The EIN aids in remaining compliant with federal regulations, which includes annual filings and reports. It is also utilized for informational filings such as the Beneficial Ownership Information (BOI) report that most U.S. businesses now have to file under the Corporate Transparency Act.

Steps to Apply for an EIN Number

Getting an Employer Identification Number (EIN) is one of the first steps to setting up your business in the United States.

No matter if you’re a local resident or an international businessperson, doing everything the right way means that everything will be handled in a timely and precise manner. As such, check out the guide below on how to get an EIN.

Let’s move onto the steps of applying for an EIN.

Step 1: Determine Your Eligibility

• You should already know that the business needs to be registered legally in the United States or any U.S territories.
• An individual needs to be appointed who will be the “responsible party” or in simple words, the person who controls, manages, or owns the business. For the U.S, this person usually needs to have a social security number. For foreign applicants, there is no need of an SSN or ITIN to apply.
• You should not have an existing EIN unless there has been a change in the business structure.

Following these requirements can help in solving compliance issues that are set by the IRS. The goal here is to avoid duplication.

Step 2: Properly Fill Out Form SS-4

SS-4 is the formal application form you fill out to get an EIN from the IRS. Although it seems straightforward, a lot of EIN applications get stuck due to complications arising from this form. Information you will require includes:

• Complete name of the entity or individual
• Business’s mailing and physical addresss
• Business entity type (e.g., LLC, corporation, partnership)
• The state and date of formation
• Purpose of applying (e.g., starting a new business, enrolling new employees, or opening a bank account)
• If an LLC, number of members
• Responsible party details (name, title, and SSN/ITIN if applicable)
• Main industry and business activities

Foreign applicants must write ‘Foreign’ in the SSN section if they lack a US tax ID. Also, indicating that the entity, if applicable, is a foreign-owned LLC is crucial so as not to misclassify the entity.

Step 3: Knowing the Submission Method Correctly

Your location and eligibility determines how you submit Form SS-4. Here are the options:

Online (Charged only to United States Citizens):

• Only residents can apply through the IRS EIN Assistant tool, which is instantaneous and issues an EIN right away, but only if one has a US address with a designated party having a SSN or ITIN.

Fax (Best for Foreign Applicants):

• Applicants need only fax the completed Form SS-4 to either +1-855-641-6935 for US applicants or +1-304-707-9471 for international applicants. Provided the form is filled out accurately, processing usually takes 3-7 working days.

Mail:

As this is the slowest method, applicants may take up to 6 weeks straight. Send your completed form to:

Internal Revenue Service
Attn: EIN Operation
Cincinnati, OH 45999

Phone (International Applicants Only):

• Non US applicants without an SSN or ITIN may achieve a particular EIN simply by calling the IRS on +1-267-941-1099 where they will step by step navigate you through the assigning process during the telephonic conversation as long as you provide accurate information.

Step 4: Receive Your EIN

The IRS will determine how you receive your EIN number. In this case, more securely:

• Online: Through the confirmation with the webpage as the screen will display it instantly, yet remain restricted to only US residents.
• Fax: Confirmation of your EIN will be sent with a return fax, inclouding a letter (usually Form CP 575).
• Mail: You will receive the confirmation letter as stated with a postal mail.
• Phone: EIN can be claimed verbally and the confirmation letter will be sent later.

Important: Banks, tax agencies, or other institutions could require your EIN confirmation letter, so remember to keep it safe with you.

Step 5: Use Your EIN For All Business Functions.

With your Business Identification Number (EIN) , the following steps can be completed:

• Open a business bank account.
• Obtain business licenses and permits.
• Pay filed taxes.
• Hire employees.
• Register with PayPal or Stripe.
• Establish business credit.

For compliance purposes, each form, account and government interaction should be filled in under the same literal and figurative umbrella – the provided EIN.

Step 6: Maintain Precise Business Records.

After your EIN is issued, maintain detailed records of:

• Assignment letter of original CP 575.
• SS-4 form copy.
• Correspondence with the IRS.
• Documentation for IRS linked businesses.

Keep documents handy as they may be important to deal with legal and tax compliance or issues such as audits or loss of EINs.

Benefits of an Employer Identification Number

Obtaining an EIN opens doors to numerous benefits beyond compliance:

Professional Appearance: A business looks more professional when they present an EIN while invoicing clients or vendors.

Access to US Banks: Corporate accounts with American banks, which are key for international transactions, require EINs.”

Payment Gateway Access: Usually, merchant accounts are only issued by Stripe, PayPal, and Square, among others, to businesses with an EIN and a US bank account.

Business Identity: An EIN allows your business to operate under its own identity, thereby minimizing personal liability and confusion in transactions.

Eligibility for Funding: An EIN is needed by most lenders and grant making organizations as part of the applications evaluation process.

Better Recordkeeping: It assists in keeping distinct and precise accounting records, which is important during planning audits or financial audits.

What Happens If You Lose or Misplace Your EIN?

An EIN is not a sensitive document because losing it does not mean your company will suffer. However, it is important to regain it in order to perform a number of administrative tasks.

Steps to Follow

• Review Previous Documents: Review previous tax returns, bank account documents, or the confirmation IRS issues (CP 575 Notice) letter.
• For Other Concerns Contact the IRS: The IRS Business & Specialty Tax Line may be reached at: 1-800-829-4933. They are open Monday to Friday between 7 AM to 7 PM local time.
• Check for IRS Notices: Any former correspondence with the IRS will roughly paginate your EIN.
• Try Not to Apply Again: Do not apply for a new EIN unless your business entity has changed, for example, if you incorporate or add members to your LLC.

How Long Will It Take to Get an EIN Number?

The processing time varies based on the given method of application as well as the applicant’s residing location:

• There is immediate issuance of an EIN for online applications for entities located within the United States.
• For applications via fax, it may take 3-7 business days assuming all relevant information is provided.
• For mail applications, it takes around 4-6 weeks.
• Phone (International applicants): Immediate, if all details are accurate

Foreign-owned entities should expect their EIN in 2-4 weeks depending on the IRS workload. Utilizing a service provider such as Bizstartz aids in avoiding delay caused by incomplete forms or inaccurate details.

How to Cancel an EIN Number

An EIN is considered null when a business cancels its operations, or the business states it no longer needs it. An entity can formally cancel an EIN, however it should be noted that it will never be deleted.

How to Cancel:

Write A Letter To The IRS That Includes Your:

• Name of the business
• Employer identification number (EIN)
• Address
• Reason why you are closing the account.

Don’t Forget To Attach The Original EIN Assignment Notice

• If you have it, attach the CP 575 letter that was issued with the EIN.

Mail To :

The Internal Revenue Service At The Following Address:
Cincinnati, OH 45999

As a result of your application, the IRS will acknowledge the cancellation in writing and your account status will show as inactive.

How Bizstartz Can Help You Get Your EIN Number

To our customer and non residents who are entrepreneurs, we together with our partners offer apply for an EIN through:

✅ Draft and Submit SS-4

✅ Application For An EIN Without SSN Or ITIN

✅ Tracking To And After The IRS

✅ Issuing An EIN Within 1 To 3 Weeks

✅ Providing Complete Service Of Forming An LLC And Setting Up A Business

✅ Additional Help: Opening Bank Accounts, BOI Filing, ITIN, Bookkeeping

As a business owner all you have to do is brief us on what your business is about, and run it while we handle the red tape and get you your EIN number.

Closing Remarks

If you’re considering starting a business in the United States, an EIN will be crucial for your identity and recognition. It achieves much more than strictly tax purposes. It empowers your business whether you are hiring employees, opening a bank account, or dealing with vendors.

Coupled with proper guidance however, foreign entrepreneurs seeking to apply for an EIN don’t have to deal with complications. The expert suggestions provided by Bizstartz enable for confidence and speed to navigate the process.

What are you waiting for? If you want to enhance your buisness image and identity in the U.S, reach out to us today and get your EIN Business Number starting with Bizstartz!

Frequently Asked Questions (FAQs)

Does personal citizenship matter to apply for an EIN?

No. You may apply for an EIN as a foreign citizen through form SS-4 whether you have a social security number or not.

Is applying for an EIN free?

No. While the service does not charge you for obtaining it, any external taxes you incur while submitting your application will not be free. In this case external taxes are likely a third party service fee.

Once an EIN is issued, can it be used right away?

It can be used immediately after being received for various tasks such as opening bank accounts, applying for business licenses, and filing taxes.

What happens if I made an error on my application for EIN?

You would have to go to the IRS to rectify the issue or in certain conditions, submit a fresh application. These kinds of problems can be avoided by using a professional service.

Does your EIN expire?

No. An EIN does not expire, however, some businesses may be required to get a new EIN after closing their business or changing their legal structure/affiliation.