The full form of EIN is Employer Identification Number. And this EIN number is also known FEIN which was simply abbreviated as Federal Employer Identification Number. This number is just like a social security number of an individual. Individual persons have SSN’s and Businesses have EIN Numbers. These Employer Identification Number is used for tax purpose. Employers can use this number or their social security number to report taxes on the behalf of their employees. Not only that in order to open a bank account for business purpose you need to have this number.
What is EIN Number?
And, Most of the state governments made this number mandatory to issue license or permits. The employer must have this number and this number will be included in the pay slips also. Whether it’s a business or a nonprofit organization everyone should get this EIN. In the previous post, we explained about how to get social security number read that post and Check this post till the end to know how to get EIN Number?
Can We Lookup EIN Numbers or Retrieve Lost Number?
If you want to look up the Employer Identification Numbers use the IRS service. You can get the details of public companies very easily. But it’s very tough to get the details of private companies. The Internal revenue service shortly known as IRS has some features which can help you to search millions of numbers using different parameters like the name of the company, zip code etc, Don’t worry if you lost your number, there are some chances to get back your EIN number. Try the following steps to retrieve your number back.
- Check for an Old EIN return.
- Have you used this number to get a license or a bank account? Remember that.
- Refer the Notice of IRS.
- Visit IRS Website for more details.
How to Apply for Employer Identification Number
You can apply online through IRS website from Monday to Friday. Timings are listed in the official website. You need to follow these step process to get an EIN Number.
- Determine Your Eligibility
- Understand the Application
- Fill the Form And Submit Your Application
EIN Number Details
This system was created by internal revenue service in 1974 by Treasury Decision 7306, 39 Fed. Regulation. 9946. The EIN number is generally written in form 00-0000000 and social security number is written in form 000-00-0000. Without this number, a businessman cannot pay the salaries and return taxes.
The first 2 digits of the number indicate the location of the business. But from 2001 onwards this was centralized with three IRS campuses and all the 10 IRS campuses can assign the number.
Check the list below to see if you have a Valid Employer Identification Number prefix
|Brookhaven||01, 02, 03, 04, 05, 06, 11, 13, 14, 16, 21, 22, 23, 25, 34, 51, 52, 54, 55, 56, 57, 58, 59, 65|
|Cincinnati||30, 32, 35, 36, 37, 38, 61|
|Philadelphia||33, 39, 41, 42, 43, 48, 62, 63, 64, 66, 68, 71, 72, 73, 74, 75, 76, 77, 82, 83, 84, 85, 86, 87, 88, 91, 92, 93, 98, 99|
|Internet||20, 26, 27, 45, 46, 47, 81|
|Small Business Administration||31|
How to Verify an EIN?
The IRS (Internal Revenue Service) is one source but only has limited access to verity EIN numbers. Follow the steps to verity Employer Identification Number
Step 1: Determine if the entity is a tax-exempt or a for-profit
Step 2: Go to the IRS website and find the Search
Step 3: Call the IRS at (800) 829-4933 if you are the employer
Step 4: Find an EIN/FEIN search service through a tax adviser
Benefits of Getting an EIN
There are benefits to getting an Employer Identification Number (EIN) is as follows
- An EIN saves business and personal finances separate
- Preserve limited charge for single member LLCs
- Reduce identity theft