The application process for obtaining an Employer Identification Number (EIN) can be confusing for individuals unfamiliar with the filing process. We’ve had several clients ask us, “Does the EIN application process differ for each entity?” So, we’d like to clarify how this part of the application is handled, and how you can streamline the filing procedure using simplified forms, as well as preparing all needed information before you apply for an EIN.
What You Need Before Filing
Before you begin, you should start by researching the type of entity you would like to form (i.e. sole proprietorship, partnership, corporation, etc.).
There are several considerations to make, namely what tax benefits you would like to prioritize, and how much money you can afford to spend on starting a business.
You will also need a Social Security Number (SSN), or an Individual Taxpayer Identification Number (ITIN) to complete the application process.
If you have these things before you apply, the application process will be much easier.
Does the EIN Application Process Differ for Each Entity?
The application process only differs slightly for different types of entities. In section 9a of the application (Form SS-4) you will be asked to identify the type of entity the EIN will be assigned to.
Depending on the type of entity, you may be required to fill out further sections of the form, including information about the number of members in an LLC, or specifically what kind of non-profit you intend to operate (public or private).
To get your business off the ground, you will want to complete an EIN application. The EIN application is simple and painless, regardless of what kind of entity you have classified your business.
You have a variety of options when it comes to determining how to classify your business. A business can be a sole proprietor, limited liability company or corporation, or trust. Regardless of your business entity, the application process remains the same.
The EIN is a nine-digit number that is used by the IRS to identify your business as a tax-paying entity. Your business does not need to have a long list of qualifications to obtain an EIN. As long as your business is located within the United States, you can easily secure this identification number.
When you are starting your business, you will need to get an EIN. The application can easily be obtained, and quickly completed. You will need the EIN not only to gain capital for your business, but you will also have to have this number to complete your taxes. This number will be submitted to the state, ensuring that the data will always match.
After you have received your EIN, you will be able to make tax deposits immediately. Your business will automatically be enrolled in the Electronic Federal Tax Payment System, which allows you to easily make deposits online or over the phone. You can access an EIN application through any computer, and within a very short time, you will have an answer on the status of your application.
When you are trying to get an EIN, you can easily have success, regardless of your type of business. The application is simple to fill out and almost immediately you will have the number that is needed to help get your business off the ground.
If you prefer to simplify the EIN application process, you may elect to complete the process online with a third party provider.
Our online forms simplify the application process and speed up result delivery. We’re also available to help business owners select the right entity for their business plans; plus, you can check the status of your order anytime, or check your EIN number online if it’s ever lost or misplaced.