EIN, also known as Employer Identification Number or Tax Identification Number, is a peculiar number through which your organization can be identified. If you own a business, then you must definitely have an EIN number.
Many people do not know the process of EIN lookup. However, to get more information regarding EIN, take a thorough look into the guide provided below.
What is EIN used for?
EIN can be used for various purposes. Here we have mentioned them for you below.
- For Business Financing
- To get Business Licenses
- Legitimate Documents
- For Business Taxes
How Can I Apply for EIN?
EIN is an important entity and should be jotted down to avoid any blunder. When it comes to the application process, then if you are a non-US resident and want to apply for EIN, just telephone, fax or mail for it.
- If you choose to call and apply, make sure to fill the SS-4 form so that you could be answerable to the agents when they ask it. For application through mail or fax, the SS-4 form should be sent by you.
- The most preferable among all the ways is the online application. All you have to do is apply and everything will be executed online. This is usually for US-residents who own offices, legal residences, and businesses.
Does My Business Require EIN?
Although every business can have EIN, there are some criteria for certain businesses. Thus, your business requires an EIN if your business has employees, files employment or excise taxes or if your business pays tax in partnership. Your business will also require an EIN if it reserves tax on non-wage income of a non-resident.
Whether you own a small or large business, EIN should be obtained so that your personal and business taxes can have a barrier. Without EIN, your tax will be paid through personal SSN which is very risky and unsafe. However, you can apply for EIN, if and only, you own an SSN.
How to Lookup an EIN?
Users tend to forget their EIN and hence it has become the most common issue with it. However, there are many activities to execute so that you can look up for an EIN. Here we have mentioned some of them for you below.
- IRS publishes a notice that is produced by the computer when you registered for EIN. It is issued for a confirmation that you have applied for EIN.
- EIN can also be identified if you have used it for bank accounts. Thus, all you have to do is communicate with your bank agency and ask them to secure the EIN. Besides, if you have earlier filed any tax return, then EIN should be noted on it as well.
- Lastly, you can also reach the IRS and contact them to provide you the EIN. They are available throughout the weekdays from 7:00 am to 7:00 pm. You will be conversing with an assistant who will ask questions to identify you and provide the number respectively.
How to Look Up IEN For Others?
If you are looking IEN for others but not yourself, then you need to check whether the company is registered with the Securities and Exchange Commission or SEC. This is because the SEC requires EIN to input all its data.
If the company is not registered with EIN, then you can try any of the steps provided below:
- Ask for EIN from the Company’s accountant or financing office or hire somebody to know it.
- Check for local or federal registration forms signed by the company. EIN number is provided into it. If nothing works, try buying the credit report of the company.
