An Employer Identification Number, often called an EIN, is a unique, nine-digit code used by the Internal Revenue Service for tracking the tax responsibilities of legal entities in the United States. EINs function like Social Security Numbers (SSN) for individual taxpayers; and like all taxpayers, only one EIN is required per legal entity. However, there are instances when a business owner may need multiple EINs, which is why some of our clients have asked us, “Can I have more than one EIN?” Below we will answer this question in more detail.
Can I Have More Than One EIN?
The short answer to this question is, yes. It is possible, and may be necessary, to have multiple EINs in the case you (the business owner) own multiple corporations, partnerships, limited liability companies, or other legal entities (i.e. trusts, estates, etc.), which would require independent identification by the IRS for tax purposes.
Every separate, legal entity should have it’s own EIN. A legal entity is defined by its ability to engage in contracts, agreements, incur and pay debts, and to be held liable for its independent actions. Associations, non-profits, corporations, and partnerships are different types of legal entities.
How to Apply for EIN Number
If you find that you are in need of an EIN, the fastest and easiest way to obtain this federal tax ID number is to apply for an EIN online.
Other EIN application methods can take up to two weeks to complete. If you apply for an EIN online, you’ll get the results delivered to your inbox within 1-2 business days; plus, you can check your EIN number online anytime you want to review your order, or in the event you lose or misplace your EIN.
If you’re still wondering, “Can I have more than one EIN?” you should consider reviewing your personal assets and business holdings to ensure you’re prepared.