Employer Identification Number

MyCorporations filing experts make filing your EIN application quick and easy.

Description

What is an EIN?

After a business is formed, an application for an Employer Identification Number (EIN) should be made. An EIN is a nine-digit number that is issued by the IRS and used to uniquely identify employer tax accounts. Think of it as how a Social Security Number (SSN) identifies an individual, only an EIN is less sensitive.

Much like a Social Security Number would identify an individual or sole proprietor (taxpayer identification number), an EIN will be used by the Internal Revenue Service (IRS) to identify a business entity for taxation. Unlike SSNs, They are considered to be less sensitive, so they are often used by entrepreneurs as their identification on government forms and official documents, since there is much less risk of identity theft.

The benefits of an EIN

  • Open a bank account
    Most banks require that a business have an EIN before they can open a bank account under the business name.
  • Hire Employees
    The IRS requires that every business must have an Employer Identification Number before hiring employees.
  • Establish a credit profile
    Filing an EIN allows a business to build its credit profile, separate from the credit profiles of its members or owners.
  • We handle the paperwork
    We make it easy by filing with the IRs on your client’s behalf, and provide them with the employer identification number once complete.

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