An EIN number is a key part of owning a business. There are several big reasons why you need an EIN number for your company. The same way a U.S. Citizen has a Social Security Number so the government can identify them for tax purposes, companies have EIN's for the same reason. Furthermore, an EIN allows the IRS, financiers, banks, and other institutions to separate your personal finances from your business'. Also, without an EIN (Employer Identification Number) you won't be able to hire any employees!
This includes paying registered agent fees, incorporation fees, and any other fees you may be required to pay like mail forwarding, etc.
Once you receive you LLC formation documents, you can proceed to the EIN ⬇️
If you have an SSN: Proceed to this website and start filling out the form
If you do not have an SSN: Download an SS-4 form from the IRS here
Legal Name of Entity (Company)
Address of the Entity
Name of Responsible Party and SSN (if they have one)
Date business started
Closing month of accounting year
Description of your business
You have an SSN: Click apply and receive your EIN almost right away!
You don't have an SSN: You must fax this form to the IRS and wait for them to process it
This may seem like a lot of work, and truth-be-told, it is. If you just made a LLC or corporation, the odds are you're eager to start growing your business, not get bogged down in the IRS with paperwork!
Doola not only can create your LLC, it can file your EIN application for you, and once its received we refer you to our banking partner, Mercury (One of the only banks where you don't need to be in the US OR have an SSN to open an account!).