EIN (Tax ID) – Bent Enterprise

Why Employer Identification Number (EIN) required?

Any business whether it’s a new establishment or undergoing refurbishment need to obtain an EIN (Employer Identification Number) from the IRS (Internal Revenue Service). Obtaining EIN for any business settlement is restricted to U.S territories. An EIN is a unique nine-digit number through which your business is recognized and used for the federal tax. An EIN number is similar to SSN (social security number) but EIN could be used exclusively for a business purpose only. EIN helps to open a business bank account, filing tax returns, and also helps to apply for a business license.

However, sole proprietors are not required to obtain an EIN. It is required by that business who recruits employees. Even those who runs a business in a partnership or operates as a corporation need EIN. Even nonprofit business such as churches, philanthropic associations, trusts, and clubs are also required to obtain EIN for paying taxes if any. It is mandatory for all employees to have EIN number as it is a Tax ID number.

Applying for EIN is not at all tedious. You can apply EIN online via the IRS-EIN assistant. Once the application fulfills all the required fields, it will be validated and an EIN will be issued. The biggest advantage is that the service is absolutely free. The EIN can be obtained by applying through FAX or mail.

There are some exceptions such as if you are applying from outside the USA and your business is incorporated outside the USA than you are not eligible to apply for EIN. For further clarification please call our helpline number.

Various Names of EIN

EIN is identified by several other names such as Tax Identification number (TIN), Federal Employer Identification number (FEIN). EIN numbers are issued to business entities in order to operate legally within US territories. EIN helps to identify a business for taxation purpose.

EIN Exceptions

EIN (Employer Identification Number) is not required in various scenarios such as –

  • If you alter the name of your business without changing the nature of work.
  • If you change your business location or add multiple locations.
  • If you are providing various services under one entity.
  • If there is a corporate merger, the surviving company can use existing EIN.
  • Insolvency of a company will not require new EIN.
  • Pseudo names of a company can be used to tax without any need of new EIN.
  • Partnership conversion to LLC does not require new EIN.
  • A LLC can choose to be taxed under different corporation name.
  • A single owner LLC does not require EIN as no employees deployed.

How to apply for EIN?

EIN is mandatory for the purpose of tax administration. IRS offers online application filling service to those business entities which are newly established. The online application filing should be completed in one single session as the page expires within 15 minutes if the session is inactive. To obtain EIN, SS4 form filing should be completed accurately. There are no government charges to file a form for obtaining EIN.

To avoid any kind of failure while form filing process, one must consult a professional service provider like us. We perform our task with great sincerity and cautious. We make the EIN filing process easy for you. If you fail to register online we will help you to overcome the situation. We ensure our customers regarding the quality of our work and we take great care while filing documents precisely.

What to do if I have lost my EIN?

Lost EIN can be retrieved in the following ways-

  • Try to find out computer generated confirmation receipt by IRS send to you initially as an acknowledgment of your online application.
  • You can contact the bank or any other agency where you must have used your EIN number previously.
  • Calling IRS helpline known as Business & Specialty tax line will guide you further how to retrieve your EIN number.
  • Can check for EIN in old tax receipt.
  • Searching EIN at EDGAR (Electronic data gathering, analysis, and retrieval system) makes the task easy as it will list all the transactions done using EIN.

How to cancel EIN?

Canceling an EIN is not possible. IRS does not cancel EIN once it has been assigned to any business entity it becomes permanent federal tax ID number. Irrespective of the situation whether the EIN is ever used to pay tax or not, it will not be canceled. Once it is issued it stays with the person forever, and EIN can be used in future ventures if any.

Only one exception is considered, suppose you have received an EIN and you decide not to start the business anymore. In such circumstances, IRS can close your business account.

Procedure to close a business account is very simple, just send a letter requesting closing of business account due to unable to start a business. Enclose your legal business name of the entity, the EIN, business address and the reason behind the closure of the account. If possible include the acknowledgment receipt which was generated at the time of assignment of EIN.

Difference between EIN and SSN

Tax identification number (TIN) which is issued for an individual is known as SSN (social security number) whereas TIN which is issued for a business entity is called EIN(employer identification number). SSN could be used as TIN but EIN cannot be used as SSN. Tax identification number or commonly known as EIN is issued to the business entities for tax administration purpose. While paying the tax company owner should mention the EIN.

There are few exceptions like for sole proprietorship SSN is considered as TIN as business and individual are considered same. The owners SSN covers his business under the same social security number. But this is not applicable for partnership and corporations. As partnership involves more than one owner and the corporation itself is a unique establishment for the business purpose.

Is it possible to get EIN for Non-US residents?

Yes, Non-US residents can obtain EIN even though they are not having SSN. We help Non-US individuals to complete the IRS filing process with compliance. Dispel your hesitation about the charges as our fees are nominal and worth the service we provide. We will help to obtain your EIN by completing form SS-4 at IRS website taking into consideration all requisite field. Our service will save your time as sometimes you may end up registration failure due to errors on the form. To avoid such complexities kindly fill the order form on our website by selecting the second option in the second drop box. Once we receive your request we will start the EIN filing and obtaining process without any hurdles.

Are you ready to avail our services?

Once you choose us for your task, we vouch to give you best customer support. Our dedicated team of professionals will accurately and immaculately complete your filing process and documentation. The process of obtaining EIN takes hardly 24 hrs.

Leave your inhibition and call us today to avail our specialized services.