Can I Get an Ein Without a Business
Why Yous Need to Form an LLC Before Getting an EIN
Yous should class your limited liability visitor (LLC) before getting an employer ID number (EIN).
This is because y'all'll exist asked for the date of business germination and for the business concern's legal proper name when you lot request your EIN.
Visit our Form an LLC guides for stride-by-step help with registering your concern or learn more virtually the EINs in our EIN Benefits guide.
LLC Before EIN
You demand to course your LLC earlier getting an EIN. This is because the IRS will ask for your business formation appointment and legal concern name on the EIN application.
You lot will need to register your business and get approval for the business'southward name from your state before applying for an EIN. Yous can't be sure of your business name until information technology's approved past your state.
If you get an EIN first, and your LLC proper noun is rejected, yous will demand to cancel the EIN, re-file your LLC formation documents, await for LLC approval, and so apply for a new EIN.
Our LLC germination guides will help you cull an LLC name that volition be accepted by your state.
Do I Demand An EIN For My LLC?
We recommend that all LLCs get an EIN but the US Internal Revenue Service requires EINs for LLCs under the following circumstances:
Unmarried-Member LLC
If your business entity is a unmarried-member LLC with no employees or excise tax liability, then you are not required to get an employer ID number.
Information technology'southward nevertheless recommended (and sometimes required) to open a bank account, to hire employees later, and in society to maintain your corporate veil.
Learn more most EINs for unmarried-member LLCs .
Multi-Member LLC or Partnerships
If your business organisation structure is a partnership or multi-member LLC, you will need to get an EIN number. This is considering the LLC must file a partnership return and provide K-1s to members of the LLC and those forms crave an EIN number.
Benefits of Having an EIN
An EIN might not be required for your LLC, but an EIN tin make information technology easier to successfully run your business.
Protecting Against Identity Theft
Applying for an EIN instead of using your Social Security number (SSN) volition keep your SSN more individual, reducing the gamble of identity theft. If you're a sole proprietor without an EIN, and yous keep giving out your SSN to clients or vendors, y'all're putting yourself at a higher risk.
Hiring Employees
If yous accept an EIN, y'all tin can hire employees as soon as the need arises.
Maintaining The Corporate Veil
If you're a single member LLC, an EIN helps you maintain your corporate veil. The corporate veil protects business owners from personal liability for the business organization's debts.
Opening a Concern Banking concern Account
Near banks require an EIN in order to open a business banking account. A business banking concern business relationship is another way to keep your personal finances and professional finances split up. It will simplify the procedure of tracking and managing your professional person expenses.
Build Business Credit
Simply similar a Social Security number tracks your personal credit, lending and credit agencies utilize an EIN to track your business's credit. Establishing stiff credit will assist to maintain your business's financial stability, and applying for an EIN is an essential pace. Having adept business credit tin lead to better interest rates, more than loan qualifications, and a college adventure of expanding your company in the future.
Qualify for More Business Loans
Although an EIN isn't required to apply for all business organisation loans, a lot of lenders adopt a company that has established its business credit through a business concern bank business relationship. You lot'll have a better chance of qualifying for loans if you have strong concern credit. To start establishing credit, you need to get an EIN.
How to Form an LLC
Our gratis state guides can help make registering your LLC even easier.
In our Form An LLC guides nosotros cover the five steps to forming an LLC:
- Proper name Your LLC
- Choose a Registered Agent
- File Your LLC with the State
- Create an LLC Operating Agreement
- Become an EIN
How To Get An EIN
The quickest and easiest mode to become an EIN for gratuitous is on the IRS website Monday thru Friday from 7 am to x pm.
You can employ for an employer identification number by fax or mail by completing Form SS-4 .
If you are submitting past fax, send your EIN application to fax number (855) 641-6935.
If applying by mail, submit to Internal Revenue Service, Attn: EIN Operation, Cincinnati, OH 45999.
For more information about whether your LLC is required to obtain an EIN, visit our EIN for LLC guide.
Option 1: Request an EIN from the IRS
Apply Online
- OR -
Option 2: Apply for an EIN by Mail or Fax
Download Grade
Post to:
Internal Acquirement Service
Attn: EIN Performance
Cincinnati, OH 45999
Fax: (855) 641-6935
Fee: Free
How do I look-up an EIN?
If you lot go on paperwork for your LLC, you tin can find your EIN on the EIN confirmation alphabetic character that is sent later your EIN application. Your EIN can also exist institute on old tax returns and tax documentation.
If you lot can't find documentation containing your EIN, you can inquire the IRS to search for your EIN past calling the Business organization & Specialty Tax Line at 800-829-4933.
How long does information technology take to get an EIN for an LLC?
Eligible EIN applicants receive their EIN number immediately after submitting their forms on the IRS website.
Applications sent by postal service or fax can have 4 weeks to process.
Afterward forming an LLC, when do I get an EIN number?
After forming an LLC, yous should employ for your EIN number every bit soon as the LLC is officially registered and approved by the state.
If I'm a sole proprietor, does my EIN alter when I go an LLC?
If you are a sole proprietor and you become an LLC, you will need a new EIN per IRS guidelines .
When the ownership of an LLC changes, do you need a new EIN?
If the ownership of an LLC changes by 50 per centum or more within a 12 month period, it will need a new EIN. If the ownership goes from ane owner to more than 1 owner, information technology will need a new EIN.
When is a new EIN required for an LLC?
A new EIN is required for an LLC when ownership goes from one owner to more than one owner or if it goes from multiple owners to 1 possessor.
A new EIN is required if an LLC is purchased or inherited and then becomes a sole proprietor .
Related Manufactures
What Is An EIN
How to Form An LLC
LLC Tax Guide
Choosing a Concern Construction
Have a Question? Exit a Comment!
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