- Product Details
Overview
MyCorporation files for businesses that need an EIN using IRS Tax Form SS-4.
An EIN is a federal identification number issued by the IRS to identify a business entity. It is also known as a Tax ID number. Legally, you are required to identify your business with one of two numbers: either your social security number or an EIN.
Generally you need an EIN when your business:- Is new
- Hires, or will hire, employees
- Is an LLC or Corporation
- Opens a bank account
- Changes type of organization
If you are a sole proprietor, your social security number can be used on all of your government forms and other official documents, but most small business advisors recommend that you apply for an EIN and use that number instead.
Furthermore, banks require an EIN in order to open a business bank account.
The Process
- Fill out and submit the Federal Employer Identification order form on our website.
- You will find requests for standard contact, billing, and authorization information, plus specific requests regarding whether or not you want MyCorporation to obtain your EIN, or simply prepare the tax form for you. Plus, there are general entity type questions and reasons for applying.
- MyCorporation will prepare and forward to you the IRS Tax Form SS-4 necessary to apply for an EIN. Please sign and return to us.
- If you requested that MyCorporation obtain your EIN, then we will submit the form and contact the IRS by telephone to obtain your number. We will then forward the number to you.
- If you requested that MyCorporation prepare your SS-4 Form only, then you must submit the form and contact the IRS to obtain the number.
Please note: MyCorporation can not obtain an EIN until your entity formation is completed and all the necessary entity paperwork has been filed with the state. As soon as the state has confirmed your formation, we will begin the EIN document filing process.
Further Questions?
- What is an EIN?
- When is an EIN required?
- Do you need an EIN?
- What happens if a business entity does not obtain an EIN?
An EIN is a federal identification number issued by the IRS to identify a business entity (similar to a social security number being issued to identify an individual, except that an EIN is used to identify a business entity instead of a person).
When is an EIN required?
An EIN is usually necessary when an applicant:
- Starts a New Business
- Hires (or Will Hire) Employees
- Is an LLC or Corporation
- Opens a Bank Account
- Changes Type of Organization
- Purchases an Ongoing Business
- Creates a Trust or Pension Plan
- Is a Withholding Agent for Taxes
Do you need an EIN?
If the answer to any of the following questions is "YES" then you should obtain an EIN:
- Do you have employees?
- Do you operate your business as a corporation or a partnership?
- Do you file any of these tax returns: Employment; Excise; or Alcohol, Tobacco and Firearms?
- Do you withhold taxes on income, other than wages, paid to a non-resident alien?
- Do you have a Keogh plan?
- Are you involved with any of the following types of organizations?
- Trusts
- Estates
- Real estate mortgage investment conduits
- Non-profit organizations
- Farmers' cooperatives
- Plan administrators
What happens if a business entity does not obtain an EIN?
Legally, you are required to identify your business with one of two numbers: either your Social Security Number or an EIN (Employer Identification Number, a.k.a. Federal Tax ID Number). If you are a sole proprietor, your Social Security Number can be used on all of your government forms and other official documents, but most small business advisors recommend that you apply for an EIN and use that number instead. If you are a corporation, LLC or other state-level entity, you must obtain an EIN because your business is an entirely separate legal entity. Furthermore, banks require an EIN in order to open a business bank account.