Lesson 13 of 25
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Applying For Your EIN

Lesson Summary

Did you know your business has a SSN? It’s called your EIN, and it is used by the IRS for tax purposes.

But this 9 digit number will also be used to create a business credit file with each of the business credit reporting agencies that we’ll be talking about in the next module.

You will be using your EIN when you open a business bank account, apply for business credit and many other business related transactions.

If you already have an EIN, you may still need a new one if:

  1. Your business is subject to bankruptcy proceedings.
  2. You form a new corporation or change the corporation name.
  3. You take in new business partners and operate as a partnership.
  4. You purchase, or inherit, and plan to operate an existing business.

Next Steps:

Applying for an EIN is free, and very easy to do. Visit https://www.irs.gov/businesses/small-businesses-self-employed/how-to-apply-for-an-ein to apply today.