If you’re reading this, chances are you’re in the process of starting a limited liability company (LLC) and you’re wondering if you need to obtain an Employer Identification Number (EIN). The answer is maybe. Read on to learn more about when you need an EIN and how to go about obtaining one.
Do I Need an EIN for my LLC?
One of the first things you need to do when you start a business is to obtain an EIN, which stands for Employer Identification Number. An EIN is a nine-digit number that is assigned by the IRS and used to identify businesses for tax purposes. In order to get an EIN, you must first have a business entity established, such as an LLC.
If you’re wondering whether you need an EIN for your LLC, the answer is that it depends. If your LLC has more than one member, then you will need to obtain an EIN. As a US citizen or green card holder with an SSN and only one member, you may not need an EIN.
However, if you are a US non-resident, then you will definitely need an EIN for your LLC. However, even if you’re not required to have an EIN, there are some advantages to obtaining one. Separating your personal and business taxes are 2 examples.
How to Apply for Your EIN
The process for applying for an EIN is relatively simple. There are a few things you need to keep in mind before getting started. First of all, if you’re applying for an EIN as a US non-resident, you will need to have a US address. You can use a friend’s or family member’s address, or you can use a service like BusinessAnywhere, which provides Business Mailing Addresses in multiple US states.
Another thing to keep in mind is that you will need to have your LLC established before you apply for your EIN. The quickest and easiest way to do this is to use BusinessAnywhere, which can help you set up your LLC in just a few days. If you choose LLC formation package two or three, the EIN application is included.
To apply online for your EIN, simply go to the IRS website and fill out the online application . The entire process should take less than 15 minutes .
Steps to applying for your EIN
There are a few different ways that you can apply for an EIN number:
-You can apply online through the IRS website.
-You can apply by fax by completing Form SS-4 and sending it to the fax number listed on the form.
-You can apply by mail by completing Form SS-4 and mailing it to the address listed on the form.
If you’re applying for an EIN number online, you’ll need to have the following information handy:
-The legal name of your business
-The business structure of your LLC (e.g., sole proprietorship, partnership, corporation, etc.)
-The state in which your LLC is registered
-The principal office address of your LLC
-A list of all LLC members
-The name and Social Security number of your LLC’s responsible party
-The reason for obtaining an EIN number (e.g., opening a bank account, filing taxes, etc.)
Conclusion: Applying for an Employer Identification Number (EIN) is quick and easy process that can be done entirely online through the IRS website (if you are a US citizen or green card holder with an SSN). Alternatively you can purchase your LLC company formation package through BusinessAnywhere including your EIN application.