We recommend all our businesses to file for their Federal tax identification number (FEIN). Get your FEIN immediately, online, and for free with the IRS. The FEIN is a nine-digit number assigned by the IRS to identify the tax accounts of employers and business entities.
Even though we recommend all of our businesses to get a FEIN, there are times they are absolutely required (e.g., LLC goes from 1 owner to 2) and times when they are not (e.g., business location changes). Keep reading to determine if you need a FEIN for your sole proprietorship, corporation, partnership, or LLC.
Partnerships are only required to obtain a new EIN if they incorporate, change to a sole proprietorship, or if a new partnership is formed.
Limited Liability Companies (LLCs)
LLCs are formed under state laws and federally the IRS doesn’t classify the LLC as a specific type of business. Instead, the IRS considers LLCs to be sole proprietorships, partnerships, or corporations depending on the organization of the LLC. Follow the FEIN requirements detailed above depending on how you're LLC is treated for taxes.
LLCs may be required to obtain a new FEIN under the following circumstances:
Get a FEIN
If you are unsure if you need a new FEIN or have questions about requirements, contact Scott at firstname.lastname@example.org
CPA + Partner at Why Blu