Obtaining an Employer Identification Number

An Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to businesses operating in the United States.

A business EIN is necessary for many reasons, such as opening a business bank account, filing taxes, and hiring employees.

To obtain an EIN, you can apply online, by mail, fax, or phone through the IRS website. The application itself is free, but there may be some costs incurred in the process of obtaining the EIN. You will receive your EIN immediately upon completion of the application.

If you need to change your business EIN, you will need to apply for a new one. However, changing your EIN is only possible in certain situations, such as if your business undergoes a significant change in structure. Common examples would include a sole proprietorship transitioning to a corporation.

In most cases, your EIN will remain the same throughout the life of your business. It’s essential to keep your EIN safe and secure, as it is sensitive information that should not be shared with unauthorized parties.