Obtain an EIN Number
An Employer Identification Number (EIN), also referred to as Federal Tax Identification Number, is a distinct nine-digit number provided by the Internal Revenue Service (IRS) to businesses for taxation purposes in the United States. This number is used by the IRS to identify tax accounts of employers as well as other entities that are required to file business tax returns. Although EIN is primarily used in the US, businesses in India can also obtain an EIN number for their US operations.
As soon as one initiates his/her business, the EIN is required. According to the IRS guidelines, EIN is required in the following cases:
- You have employees under you;
- For operating a Corporation or a Partnership;
- If you file Employment, Excise, Firearms, Tobacco and Alcohol tax returns;
- You withhold taxes on income paid to a non-resident alien (other than wages);
- You have a Keogh plan;
Or in case you are involved in any of the below mentioned organisation:
- Trusts barring the Exempt Organization Business Income Tax Returns, trustee-owned revocable trusts, IRAs;
- Administrators for Plans;
- Farmers’ cooperatives;
- Real estate mortgage investment channels;
- Non-profit organizations.
Use of EIN
Organisations need an EIN to file their business tax return and to pay salary to their employees. Other than that, banks, brokerage houses, credit unions don’t allow corporations to have bank accounts without EIN.
EIN for Non-Citizens
Obtaining an EIN is a smooth process if you have a Social Security Number (SSN) / ITIN. But for non-citizens, it can be a headache if due diligence is not observed. Almost all people hire lawyers after they obtain an EIN number to report their employment tax. Still, they don’t know that they can hire a lawyer on a retainer ship to help them with all the legal requirements of the business, including EIN at a very optimum cost. I mean, if I have to eventually pay a lawyer, why not get maximum service for the same price?
This helps them in three ways:
1. Optimum cost for legal services as retainership is always more economical than solitary assignments;
2. The retained lawyers also understand your business better because they were the one who assisted in laying its international foundation thus they are able to deliver better and much more proficiency and accuracy in the work;
3. Zero chances of common mistakes in regulatory compliances, agreements and due diligence. All the complicated questions requiring legal expertise will be the responsibilities of your lawyer, giving you ample time to work on your product development and business strategies.
Following are some common queries we have assisted our client with:
- What are the requisite permission and compliances required before applying for an EIN?
- What is the difference between an EIN and Tax Identification Number? Can they be used interchangeably?
- How to ascertain in which category your employee falls? What are the consequences of misclassification?
- Who all can be responsible parties for EIN?
- When one needs to file Form SS-4 and when not?
- Do individual subcontractors require an EIN?
- What is the correlation amongst organisational structure, ownership of the business and an EIN?
- EIN doesn’t expire, but under what conditions can it be revoked?
- Can EIN and TIN be used interchangeably?
Obtaining EIN without SSN and ITIN
While this is possible, it is a lengthy procedure to obtain an EIN number and can cost you your billable time. We at USAIndiaCFO have a stellar record of securing an EIN for Indian entrepreneurs within three to four days, irrespective of SSN and ITIN.
SSN is for the US citizens and for authorized non-citizens residents (students on F1 visas, Green Card holders, etc). ITIN is for foreign-status residents including undocumented aliens, non-resident aliens, foreign companies, partnerships, and trusts require an ITIN.
SSN is needed to work, collect Social Security benefits and pensions, and are required in order to be eligible for other social services and every American has one as it serves National ID number for the purpose of various financial and medical services. ITIN is required to file for taxes by the non-residents.
US citizens with SSNs don’t need to pay any third party to obtain an EIN, you can simply apply online on the IRS’ website using this link.
Obtaining an EIN number for your business in India can be challenging for non-citizens who may not have the necessary requisites such as a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN). However, we at [company name] have over 5+ years of experience in this field and have successfully assisted international businesses in expanding their operations to the United States. Our expertise in obtaining EIN numbers for businesses has been acknowledged by top clients such as Paperboat Apps, VSV Wins Group, Numiv Research, and thousands of other business ventures. With a track record of never disappointing a single client, we are confident in our ability to help you obtain an EIN number for your business.
Looking for professional assistance for your business? Contact us today! Our team is just a phone call away at +91 9828280505 (also available on WhatsApp) or you can drop us an email at email@example.com with your business requirements. We guarantee to respond within 2 hours and help you with your needs. Don’t hesitate to reach out!
We help you to obtain your EIN, along with providing a range of other services to take full accountability as the virtual CFO of your business.
Check out the details by clicking on the button below:
What is an EIN and why do I need one for my business?
An Employer Identification Number (EIN) is a unique nine-digit number assigned by the IRS to identify your business for tax purposes. You need an EIN if you have employees, operate as a partnership or corporation, or have a Keogh plan. It's also required for opening a business bank account or applying for business licenses. Don't wait to apply for your EIN. Get started today to avoid delays in running your business smoothly.
How long does it take to obtain an EIN?
The process of obtaining an EIN (Employer Identification Number) usually takes just a few minutes if you apply online or by fax. If you apply by mail, the process may take several weeks. To speed up the process, ensure that you provide accurate information on your application. Get started on your EIN application today and get your business up and running in no time!
How can I obtain an EIN number?
By filling out Form SS-4 and make sure to have all necessary information, such as your business name, address, and identification number, ready before you start. Don't forget to double-check your application for accuracy before submitting it. Get started today and take the first step towards legalizing your business with an EIN!
Can I use the same EIN for multiple businesses?
Yes, you can use the same EIN for multiple businesses as long as those businesses are all part of the same legal entity. However, if each business is a separate legal entity, such as a corporation or LLC, then each entity must have its own unique EIN. It's always best to consult with a tax professional to ensure compliance with all applicable laws and regulations. Don't let the complexity of tax law hold you back from growing your business. Consult a tax professional today!
What should I do if I lost my EIN or need to change the information associated with it?
If you lost your EIN, you can retrieve it by contacting the IRS Business & Specialty Tax Line. If you need to change the information associated with your EIN, you can complete and submit Form SS-4 to the IRS. Remember, it's important to keep your EIN information up-to-date to avoid any potential issues with the IRS. Contact the IRS today to take care of any EIN-related issues!
Don't let lost or outdated EIN information hold you back. Contact us Now!
Schedule a call
Let us discuss your requirements on a no-obligation discovery call, anytime as per your convenience.