An employer identification number (EIN) is important to a business and is required if the business wants to pay employees, open a business bank account or provide proof of their EIN to a vendor. While there is no cost to obtain an EIN it’s still important to have.
To obtain an EIN you must first complete Form SS-4. This form is available online. Once that form is filed the IRS will send a letter confirming the EIN also known as Form CP575.
There are instances where the confirmation letter is never received or lost. It happens. Don’t panic because you have an option. If you can’t get a copy of the original letter from your bank you can get an EIN verification letter by doing the following:
- Call the IRS at (800) 829-4933 between the hours of 7:00am and 7:00pm
- Request a 147C letter (this is the EIN verification letter)
- Provide the owner or officer information
The IRS will then send you the EIN verification letter by fax or by mail.