Step by Step Guide - How to Apply for an EIN Number?

 

If you are going to buy a car or a house, open a bank account, or get a job, you will need to provide your social security number. However, if you are new to the business world and want to do something for your company, you will need an EIN. If you want to open a bank account for your business, it cannot be done without providing the employer identification number. Therefore, there are many businesses that need an EIN number to operate a business. As well, you must know how to apply for an EIN number. 

Yeah, applying for an EIN number application is not that terribly complicated to use. Also, it's a very pretty quick process to do. But in this case, if you are applying for EIN online, what you need to do is just visit the website IRS. Therefore, there is the need to read all the details before you get to the application for the final submission.  Get knowledge of how to apply for EIN Number easily.

 

What is an EIN?

 

The EIN number is used for identification purposes. Like every business that is collaboratively running in the market with the employee team, it needs EIN. The EIN will be used for getting the task done for the business. So, this is basically a federal tax identification number.

Employer numbers are primarily used to identify a business entity. So, you can also call it a federal employee identification number which consists of nine-digit that are totally unique numbers. Hence, it cannot be given to another person when it gets assigned to one business.

For sure, this is a completely unique number and no one can use your employer identification number for their business purpose. Therefore, the business employer number is identified by their internal service revenue. There are multiple businesses that see EIN for their business purposes and they use an EIN number of various documents such as forms that are given below-

 

• W-2 is the business's wage and tax statement in this format.

• 941. This is the federal tax return of the employer and that is the quarterly Employer’s Quarterly Federal Tax Return

• 944. This is the Annual Federal Tax Return for Employers

• 940. This is the form for the Employer’s Annual Federal Unemployment (FUTA) Tax Return

• 1120, It is the U.S. Corporation Income Tax Return form

Including this, you should know that there is no need to use the EIN number in the place of the SSN number. Because, you can't do this.

Do you need an EIN?

Basically, EIN is not required for every business. There are some specific cases when the employer number will be needed. So, get a detailed list of all those various business deeds for which you would need an EIN number.

You just have to fill in the application to apply for an EIN number, if you:

• When you need to add employees to your business

• Also, when you are up to structuring your business as a corporation or partnership

• Therefore, when you want to file for employment and exercise,

• There can be a reason to have an EIN filing alcohol, tobacco, and firearms tax returns.

• When you need to have a Keogh plan for your business

• In addition to this, when you are really involved with qualifying trusts and estates,

• Moreover, for all nonprofits, farmers’ cooperatives will be required to have EIN and for plan administrators

 

Therefore, when you are thinking of being in such a business, you will have to apply for an EIN number for sure.

How to apply for an EIN?

If you own a business and want to expand it by opening a business bank account and other important needs, the first priority would be to obtain an EIN number. As the need for EIN numbers has been explained above. As a result, having an EIN number is important, especially if you are dealing with a corporation. Clearly, there are specific ways to obtain your employer's identification number. Altogether, every method has its own different way of providing you with the employer number. In addition to this, the employer number helps you in many ways.

Therefore, grab it and make radical use of it for your business. Including this, the employer number is feasible for being applied by fax, by mail as well as by call. As a result, whenever you apply for an EIN, you should be aware of the process, as well as who can apply online and who can apply through other methods.

Before applying for an employer number, you would need some things to submit at the time of applying for EIN.

• There will be the requirement of your company's or business' legal name 

• Along with this, when you are applying, you need to fill in the address

• Business structure (e.g., sole proprietorship) will also be required.

• You should have a proper reason for applying

 

1. Online

Make sure you have an internet connection when applying for your EIN number. Along with that, the online application can be applied to the IRS website. As it is available from morning 7 to 10 pm. It will only be available for application from Monday to Friday. It could be feasible for the residents of the US.

There are five parts included in the EIN application-

1. Your Identify
2. Authentication
3. Your Addresses
4.   Business Details
5. Confirmation of EIN

 

2. Fax

When going to fax the application for applying for an EIN number, first of all, you have to fill in the SS4 form and then fax it to the address of the IRS. For faxing the request form to get an EIN number can be submitted anytime you need it. It is available 24 hours a day. 

While applying by fax, it can take up to four business days to get your EIN. Therefore, get it and have use of it for your business.

3. Mail

Furthermore, if you are not literally in that hurry, you may apply to get your employer number by mail. In the case of the mail process, it takes up to four weeks to give your employer's number. The only thing left to do is mail the SS4 form to the IRS's address.

Internal Revenue Service

Attn: EIN Operation

Cincinnati, OH 45999

 

4. Phone

You can call the IRS to get your employer number for your running business. Yes, this process works for international applicants who do not have their primary business in the United States. Call the IRS and make it happen by answering a few questions and getting it.

 

Henceforth, if you encounter a number of difficulties in understanding the process of how to apply for an EIN number, contact us directly at our toll free number  +1 (919) 504-6664 and receive better responses from our expert team.