How to Apply for an EIN With doola

If you’re starting a business in the U.S., one of the key steps is obtaining an Employer Identification Number (EIN). An EIN is essentially your business’s social security number, issued by the IRS. It’s required for filing taxes, opening a business bank account, hiring employees, and more. 

While the process can seem daunting, doola makes it incredibly simple.

In this article, we’ll walk you through the steps of how to apply for an EIN with doola, so you can get started on your entrepreneurial journey without any stress of paperwork.

What Is an EIN?

An Employer Identification Number (EIN) is a nine-digit number issued by the IRS to identify your business for tax purposes. Most people think of it as a social security number for your business.

Why Do You Need an EIN?

Before we dive into the process of how to apply for an EIN, let’s quickly recap why having an EIN is essential:

Tax Filing: Required for reporting income, paying federal taxes, and filing returns.

Opening a Business Bank Account: Most U.S. banks need an EIN to open a bank account for your business.

Hiring Employees: An EIN is necessary for payroll and employment tax purposes.

Establishing Business Credibility: It signals that your business is legitimate and structured properly.

What Happens If You Don’t Have an EIN?

Skipping the EIN application might seem like no big deal when you’re just starting, but the truth is, not having an EIN can lead to serious limitations for your business.

Here’s what can happen if you don’t have an EIN:

1. You Can’t Open a Business Bank Account

Most U.S. banks require an EIN to open a business bank account. Without it, you’ll be forced to mix your personal and business finances, which can make bookkeeping messy and complicate tax filing.

2. You’ll Struggle to Hire Employees

Planning to grow your team? You’ll need an EIN to set up payroll and handle employment taxes. Without it, you won’t be able to legally hire or pay employees.

3. Tax Filing Becomes a Nightmare

The IRS uses your EIN to track your business for tax purposes. Without it, filing taxes becomes complicated, and you risk missing deadlines or misreporting income, which could lead to fines or audits.

4. Limited Access to Business Loans or Credit

Banks and lenders often require an EIN to approve business loans or credit. Without it, you might struggle to secure the funding needed to grow your business.

5. Your Business May Lose Credibility

Not having an EIN can make your business look less professional to customers, vendors, and potential partners. It signals a lack of proper structure, which could hurt your reputation.

How to Apply for an EIN With doola

Applying for an EIN with doola is quite straightforward. Here’s what you need to do:

Step 1: Form Your Company

The first step in getting your EIN is to form your business entity (LLC, C-Corp, etc.). doola makes this process quick and hassle-free.

Here’s what you need to provide:

🎯 Your Ideal Company Name: The name you’d like for your business.

🎯 A Personal Address: This can be anywhere in the world.

🎯 Your Email Address: So we can keep you updated.

You don’t need a mountain of documents to get started — just fill out a simple form.

Timeline: Around 1 week, depending on state processing times.
Dependencies: State-specific filing speeds.

Step 2: Get Your U.S. Employer Identification Number (EIN)

Once your business is officially formed, the next step is to obtain your EIN. This unique number, issued by the IRS, identifies your business for tax purposes and is essential for tasks like filing taxes, opening a business bank account, and hiring employees.

Here’s how doola makes the process seamless:

✅ How doola Submits Your EIN Application

• Direct Submission to the IRS: Once your business formation is complete, doola submits your EIN application directly to the IRS within 1–2 business days.

• No U.S. Social Security Number (SSN) Required: Even if you’re an international entrepreneur without an SSN, doola ensures your application is processed smoothly.

✅ What Happens After Submission?

• The IRS reviews your application.

• If everything is in order, your EIN will be issued and sent to you via email.

Timelines:

• With an SSN: 1–2 business days.

• Without an SSN: 4–6 weeks (can extend to 8–10 weeks during tax season).

Dependencies: Processing speeds vary depending on the IRS workload.

📝 Documents Needed for EIN Application

To make the process hassle-free, you’ll need to provide the following:

Your Business Formation Documents: These confirm that your LLC or C-Corp has been officially registered.

Your Personal Identification: A valid passport is required, especially for non-U.S. residents.

Your Business Information: 1) Business name. 2) Registered business address. 3) Details of the business owner(s).

doola ensures that all necessary details are accurately submitted to avoid delays or rejections.

Step 3: Apply for Your U.S. Bank Account

After receiving your EIN, you can apply for a U.S. business bank account. This step is needed for keeping your finances organized and separating business from personal expenses.

Why Is a U.S. Business Bank Account Important?

• It keeps personal and business finances separate, simplifying bookkeeping and tax filing.

• It enables you to accept payments in U.S. dollars, streamlining transactions for international entrepreneurs.

• It’s often required by payment processors like Stripe or PayPal.

What You’ll Need:

• Your EIN (Employer Identification Number).

• Your passport.

Timeline:

Typically completed in 3–5 business days, depending on the bank’s setup process.

Step 4: Connect Your Bank Account to a Payment Processor

Once your U.S. business bank account is active, it’s time to connect it to a payment processor. This step is important for receiving payments from your customers and ensuring funds are accessible for your business needs.

Why Is Payment Processor Integration Critical?

• It enables seamless revenue collection from Shopify or other e-commerce platforms.

• It gives your customers multiple payment options, reducing friction in the buying process.

• It ensures that your sales revenue flows directly into your business bank account for better financial tracking.

How doola Simplifies Payment Processor Setup

After your bank account is active, doola walks you through the process of integrating it with popular payment processors like Stripe, PayPal, or Square.

Timeline:

Usually completed in 3–5 business days, depending on the payment processor’s requirements.

How Steps 3 and 4 Connect to Your EIN

Your EIN is the foundation for these steps. Without it, you can’t:

✅ Open a U.S. business bank account.

✅ Integrate a payment processor to collect revenue.

doola ensures that each step builds on the previous one, creating a streamlined process from EIN application to full financial functionality for your business.

Build Your Business, Not Paperwork: Let doola Handle Your EIN Effortlessly

Don’t let the complexities of business formation and EIN applications pull a BIG curtain on your dreams.

From forming your LLC to getting your EIN and setting up your bank account, we handle the details so you can focus on building your dream company.

Curious to see how easy these steps can be with us?

Book a free consultation and let us help you take the next step toward success.