Creating an EIN Number for Your Business 

One of those essential steps for your new business entity is the creation of an EIN number. This is a super simple process but vital for your credit journey. Lots of people have reached out to me with issues in starting their EIN as well as the business foundation as a whole, so I wanted to go over it with you. Doing it yourself is not difficult, and there are companies that will charge you exorbitant fees (several hundred dollars) to do it, which is just a waste and, honestly, a scam.  So let’s learn the process. 

You want to start by going to IRS.gov and clicking on the “Apply for an Employer ID Number (EIN)” see the orange oval below….

You will want to scroll down a bit on the page that opens up, and you want to get to the “Step 3: Submit Your Application.”

It will look like the following, click the “Apply online now” section.

You will have a popup that says this is for official business only,

 close that popup and the screen will look like the following…..

You will want to click “Begin Application”:

You will be provided the following options; in most cases, you will want to choose “LLC” however please seek legal advice for what is particularly best for you and your situation as this is not legal advice but instead only my personal experience and opinion. 

Limited Liability Company (LLC)

A limited liability company (LLC) is a structure allowed by state statute and is formed by filing articles of organization with the state.

You may want to choose a “corporation” if that is what you have set up for your entity. Make sure that you know what the company structure is and pick the correct right match for it. If you do not, then you can have problems in the future.  

Your choice will have information about exactly what the chosen entity was to confirm. The page for LLC is as follows….

Confirm that it is correct. If so, click “Continue” if not, go back and find the correct choice. 

Put in the member and location information.  

Then confirm your selections.

You will probably be starting a new business, but fill in your correct choice to your situation if this is not correct.

Fill in your responsible party information.

Fill in your address information.

Fill in the information about the business entity including the start date.

In most cases, you will put “no” for all of the following questions…….

Continue answering the questions that are asked which are about the nature of your business. 

You will then choose how you want to receive the confirmation of your EIN. Do yourself a favor by receiving it digitally. Snail mail takes way too long with the IRS.

After this choice, you will go through the final check to ensure that you have supplied the correct information. 

It is recommended that you save/print a copy of this confirmation page before you click submit, as you will not have access to the information after submitting. 

You will see the following, and you will want to “submit”.  

“Once you submit, please wait while your application is being processed. It can take up to two minutes for your application to be processed.”

Once it is finished, it usually takes under 30 seconds; you will see a notification PDF after downloading that includes your new nine-digit EIN Number.  

You want to copy it down AND you want to safely file/store your new business EIN PDF letter.  

The PDF just looks like a basic letter from the IRS. This is the same letter you would receive if you had had the letter snail-mailed so trust me there’s nothing you’re missing out on. Keep in mind you will need the PDF; this PDF and EIN number will be used for pretty much everything related to your business (Duns Number creation, any business credit card, bank account setup, etc.), so you want to have it as soon as possible to move the process along faster. It is similar to your business’s social security card for example and is used to identify your business for financial lending and tax purposes.

They will also not reissue this letter, unfortunately. They can give you a letter that states you have a number, but it is not the same document, and this is the document that lenders will want to see (with many banks, if you don’t have the original EIN letter, you will be denied).

Hope this process helps get the business going and gets you another step closer to your goals.

To skip the long “stairs process” and take the “elevator” to help get you to your goals and dreams faster without all the headache and uncertainty in between then go to CreditCounselElite.com now.

God Bless!!!!