
An EIN number identifies your business with the IRS. It is a special number made up of nine digits and provided by the IRS. “E” stands for employer, “I” stands for identification, and “N” stands for number. Also, as long as we are defining terms, IRS stands for our U.S. Internal Revenue Service.
Every EIN is a part of public information. If you are wondering how to find your business’ EIN, you are not alone. Many new business owners aren’t quite sure where to find this important information about their company. Stay tuned because we have you covered if you want to check on your EIN.
EIN Numbers, Defined
EIN numbers are also referred to as Employer ID Numbers or Tax ID Numbers. These numbers may have different names, but they are one and the same, and their purpose is tax reporting. Your EIN is essentially a code that the federal government and the IRS use to differentiate between businesses. In the same way that people have Social Security numbers to identify them as individuals, businesses have a set of numbers that classify them with the IRS.
EINs also allows business owners to apply for loans and complete credit applications. If you open a bank account for your business, you will use an EIN. It will also be necessary when hiring employees, as well as filing taxes for your company. As you can see, EIN numbers are essential for your business. But the question remains: how do you find your EIN number?
First, what types of businesses need an EIN number?
If your company has employees, then you will need a Tax ID number. Also, if you are running a type of partnership or a type of corporation, you will need an EIN. If you file excise taxes, you will need an EIN, as well as if you withhold taxes. If you pay nonwage income to nonresident aliens and therefore withhold taxes, you will also need to find your EIN number.
Sole Proprietorships also need EIN numbers. These businesses are run by individuals who use their personal information, such as their SSN, to run their companies, but for hiring or filing excise taxes, they need to use an EIN.
If you are running a single-member LLC, we would also encourage you to procure an EIN. If you operate your company using this EIN number, you may be able to keep your corporate veil. Also, if you are part of a sole proprietorship, you need an EIN in order to hire your employees.
As you can see, an EIN number, or Tax ID, is a very useful piece of information, not just in order to be identified by the IRS but to simply run your company smoothly and successfully.
How do I find my EIN number?
If you are wondering: how do I find my EIN number, or you just want to check on your EIN number, here are the steps we would recommend.
- Find out if the Internal Revenue Service has sent out any notifications lately. In this correspondence, you should be able to find your Tax ID digits since this is how the IRS locates your business. You can also check letters, notifications, tax returns, any mail you have received at all, whether online or not.
- If have a bank account for your business and you used a tax I.D. number to open it, get in touch with your bank.
- Did you use your EIN in correspondence with any state agencies or local authorities? Perhaps you were in the process of getting licenses or permits for your business? These agencies would probably have the information you are looking for.
How else can I find my EIN number?
If none of these worked, there are other things you can do. Another easy solution is to simply call the Internal Revenue Service by phone. They are open for business during the week, Monday-Friday, 7 am-7 pm EST. Speaking with someone directly might be the best option here, but remember that the IRS is typically busiest on Mondays.
Tip: if you do place a call to the IRS, be prepared to answer questions about your business. In order to make sure that you are the owner of the business and keep all Tax ID numbers and tax information safe, they will need to verify your identity.
I know how to find my EIN now, but I need to find someone else’s EIN; is that possible?
First, make sure that this is an acceptable action and that you are welcome to this information. Then, you can run a search online using the SEC databases. If this does not work, and you are involved with the business in some way (for example, perhaps you’re a vendor for this company), then you are allowed to ask the business what their EIN number is. Sometimes, asking is easiest! Lastly, if the company is not for profit, then you can search it out via the online database of organizations that are tax-exempt. This can be found through the IRS website.
I don’t have an EIN. How do I find one?
The easiest way to obtain an EIN for free is simply to apply. You can do this on the website of IRS. Find the link for “EIN Assistant.”
Do I really need an EIN?
Yes, absolutely. You first need to create your business, and then you must get an EIN to identify your business with the IRS. You will need to provide pertinent information, such as the date when you formed your business and your business’ lawful name, so be ready.
Are there other ways to apply?
Yes, you can complete a form by the name of SS-4 by mail or submit it by fax. This should be submitted to the IRS, and details can be found online.
I think I understand how to find my EIN, but is an EIN necessary if I am self-employed?
We are glad you are beginning to understand the easy process of running an EIN check. Let’s get to the question at hand: you do not need to obtain an EIN number if you are currently self-employed. You are welcome instead to use your SSN in place of an EIN. However, some self-employed individuals still get EIN numbers in order to lower any identity threat risks that are out there. This is because separating your personal and business finances is helpful in preventing someone from being able to hack your accounts.
I have assigned a DBA to my sole proprietorship. Is it necessary to check on my EIN?
Good question. Using a DBA name does not change EIN requirements for your business. The IRS has decided that if you do not have employees and you do not file pension tax returns or excise returns, you do not need a Tax ID number. However, if you do hire people or file these sorts of returns, an EIN number is essential.
How is an EIN different from a TIN?
Great question, and a simple answer. They are the same thing: the number given to your business through the IRS in order to correctly classify your company.
How do you compare an EIN to a FEIN?
A similar situation to the last: no difference. These are referring to the same thing.
I have a few more questions about these terms and how and why they categorize my business: where should I turn?
Our California business lawyers and corporate attorneys have answers for you. Get in touch with Nakase Wade today, and let’s make sure you are equipped with all the right knowledge and are ready to succeed.