What Is An EIN And The Application Of EIN

An EIN is the Employer Identification Number and is also known as the federal tax id number. It is a nine digit number assigned by the Internal Revenue Service or the IRS to identify the employers’ tax accounts and business entities. An EIN is assigned to a particular business and it will not expire. But when the business changes owner, then the new owner will have to apply a new EIN.

First, you will need to identify your business entity type. Depending on your business entity type, there are different forms to be filled and you will be guided on how to apply EIN online because each business structure carries unique rules and requirements.

If you need assistance with receiving an EIN number, you can get help from a third party designee or you can trust Gov Doc Filing with their service. You can start by clicking on your business entity type on their website or take a simple survey to confirm your business entity type. Then you proceed to fill up the online form and after you have completed the form, Gov Doc Filing will file the appropriate paperwork to expedite the EIN process.

When you will be required to obtain a new EIN?

For sole proprietors

• If you incorporate.
• If you take in partners and operate as a partnership.
• If you purchase or inherit an existing business that you operate as a sole proprietorship.

For Corporations

• If you change to a partnership or a sole proprietorship.
• If a new corporation is created after a statutory merger.

For Partnership

• If you incorporate.
• If your partnership is taken over by one of the partners and is operated as a sole proprietorship.
• If you end an old partnership and begin a new one.

For Limited Liability Company (LLC)

• If a new LLC has more than one owner.
• If a new LLC with one owner chooses to be taxed as a corporation or an S corporation.