If you're starting a business in the United States, one of the first things you'll need is an Employer Identification Number (EIN). An EIN is a unique nine-digit number that identifies your business for tax purposes. It's essential to have an EIN to open a bank account, apply for business licenses and permits, hire employees, and file taxes. In this blog, we'll guide you through the process of obtaining an EIN for your business.
Most importantly remember that an EIN is FREE! There are plenty of websites and services who want you to pay to obtain one, however that is entirely unnecessary. By using the below methods you can obtain your free EIN:
- Apply for an EIN Online:
The easiest and fastest way to apply for an EIN is online. Go to the IRS website and click on "Apply for an EIN Online." The application process is free, and you'll receive your EIN immediately upon completion. Before you apply, make sure you have all the necessary information, including your business name, address, and tax classification.
- Apply for an EIN by Fax or Mail:
If you prefer not to apply online, you can also apply by fax or mail. Download Form SS-4 from the IRS website and complete it. Then, fax or mail the form to the appropriate address listed on the form. If you apply by fax, you'll receive your EIN within four business days. If you apply by mail, it may take up to four weeks to receive your EIN.
- Obtain an EIN by Phone:
If you need an EIN immediately and cannot apply online, you can obtain an EIN by phone. Call the IRS Business and Specialty Tax Line at 800-829-4933 between 7 a.m. and 7 p.m. local time, Monday through Friday. A representative will ask you questions and assign you an EIN over the phone.
Obtaining an EIN for your business is a straightforward process. You can apply online, by fax or mail, or by phone. Make sure you have all the necessary information before you apply, and determine if your business needs an EIN. With your EIN, you can open a bank account, apply for business licenses and permits, hire employees, and file taxes. If you have any questions about obtaining an EIN, contact the IRS Business and Specialty Tax Line for assistance.
