What do I do with my EIN when I am going out of business?

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When you cancel an EIN number with the IRS, this process is technically called “closing a business account.” Tax identification number information is never technically cancelled. Instead, these numbers simply stop being used.

Cancelling a Business

When you decide to cancel your EIN number, you need to fill out an official letter with your business’ information and the request. This letter needs to be sent directly to the IRS. After you have sent this letter, you will receive a confirmation receipt with this updated information in less than 45 days after the official request is sent.

If you do not receive this confirmation information within a 45-day period, you can send the original letter to the IRS once again. However, make sure you write “second request” somewhere near the top of this second letter. This will ensure there are no issues if your request needs to be processed for the second time.

Moving Forward

After you have officially cancelled your business with the IRS, you cannot use this number again. If you choose to open a new business, or re-open the business you closed originally, you must apply for a new EIN number after you establish your business formation plans.

When it comes to going out of business tips, we can simplify the process involved with cancelling your business account and discontinuing your EIN number. Our forms are simple and easy to fill out, and we make this part of closing your business as stress-free as possible. We guarantee that all our applications are processed and confirmation is delivered to you within the same day.

Get Started Today

We make cancelling your EIN number highly convenient, and we will make sure our processes save you time, money, and hassle. Get started today if you need to close your business, and reach out to our knowledgeable staff if you have any questions.

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