Whether you are a new business or have been in business for awhile, you will need an EIN number. An EIN is usually recommended for businesses with employees, but there are advantages to having the employer identification number cut across all kinds of businesses. This said, the process of filling out the application forms is very delicate and requires know how. Any slight mistake in filling out the forms can lead to a rejection of the application. Read these 5 tips to filling out your employer identification number application to make it easier for you.
Download and Fill Out the SS4 Form
Go to the IRS website and get your ss-4 form. You may wonder why you need to download the form especially if applying online. Well, I will tell you why. All the four ways of applying for an EIN makes use of the data on the ss-4 pdf form. Download this form, take your time to fill it, consult your partners or lawyers. Ensure the information you have written is all correct. The IRS has been generous enough to give you a downloadable pamphlet with instructions on what needs to be filled in each area. No matter how much you trust yourself to answer the questions correctly, do not ignore the instructions pamphlet. Information that you will give here is what is to be copied in filling the application.
Have The Necessary Information With You
When filling out the form, there are specific details that will be required. You will have to give personal information such as your social security number or individual tax identification number. Have all these ready with you so that you can take minimum time in filling the ss-4 forms. Ensure that this information is up to date. Your business name and legal name may vary, bee keen to fill every detail correctly.
Follow Given Instructions
Visit the IRS website and click on the federal ein application. There you will see instructions asking to follow the step by step questionnaire to obtain your EIN number.
Start by filling out the business entity. Confirm what you have on your ss-4 form and select the appropriate field. The next step is to fill in your business and individual information. Continue stepwise up to the last step. You will appreciate the fact that moving from one step to another will only be allowed once all required information is given.
Confirm Information Given
Before clicking on the submit button, go through your filled form once again. Compare the information you have given in your online application with what is on your ss4 form. Be sure that information on both copies is the same. Some of the important information to confirm before submission is; business legal name, date of starting the business, physical location on the business and the name and name and address of a third party person.
Submit and Wait For Approval
After confirming that all information is correct you can sign the form and confirm that all information given is correct and true. Depending on the mode of application you choose will determine the length of time to wait for approval. Submit your filled application form and wait for your EIN.