Learning How To Obtain A EIN Online
As a business entity or self-employed individual, you may be responsible for obtaining an EIN. The Employer Identification Number is incredibly important and can be utilized in a number of different situations. The figure can be used in place of your SSN, if you wish to try and keep your identity safe. Of course, attempting to obtain an EIN online is not going to be easy. The process can be complicated and tedious. Below, you will learn everything you need to know to move through the process properly and obtain your EIN, without complications.
Are You Eligible?
First and foremost, you should take the time to examine your eligibility. Are you actually able to obtain an EIN legally? The good news is that you do not need to own a Limited Liability Company, LLC, in order to obtain one of these numbers. You can also obtain one for other reasons. These eligibility requirements will be listed below.
- Your principal business is located within the United States or the U.S. Territories
- You have a valid Taxpayer Identification Number, which can be your SSN, ITIN or EIN
- You are self-employed or own a Limited Liability Company
If you fall within these categories, you will be able to obtain your EIN online. Of course, you will need to fill out an application, in order to do so. The application can be completed and submitted online for added convenience.
Other Ways To Apply
Although the majority of individuals will opt to submit their applications online, there are other ways to apply. Applying online is generally the quickest and easiest way to submit your application. Of course, you can also do so by fax and snail mail. In order to proceed in this manner, you will need to obtain the SS-4 form, fill it out and submit it in the manner of your choosing. International applicants can apply by telephone.
The Importance Of The EIN
Now that you’ve learned how to obtain your EIN, you should figure out exactly why this figure is important. The number is frequently utilized, when companies are required to interact with the IRS or Social Security Administration. Of course, self-employed individuals can also take advantage of the EIN and utilize it for other purposes. These will be listed below for your consideration.
- It is possible to open a bank account, while using your EIN. This can be a great way to separate and easier track your self-employment earnings against your regular earnings.
- Your EIN can sometimes be used in place of your SSN. This is recommended, as it’ll keep your SSN safe and will prevent criminals from stealing your identity.
- You can also obtain credit, by using the EIN. This can be done with many major retailers
Obtaining Your EIN
Although the task may sound easy, it is not. Obtaining an EIN can be difficult and getting turned down happens often. Therefore, you should make sure to enlist the help of a professional, when attempting to obtain this paramount figure. It’ll ensure that you’re able to obtain your Employer Identification Number, without any hiccups.