STEP 5. Your EIN number registration
What is an FEIN or EIN number?
The Employer Identification Number (EIN), or the Federal Tax Identification Number (FEIN), is used to identify your business entity. In most instances, business will need an EIN to operate. These businesses include:
- Any business with employees.
- Any business that operates as a corporation or a partnership.
- Any business that pays employment, alcohol, tobacco or firearms tax returns.
Without your EIN number you won’t be able to apply for a business bank account, business licenses or file a tax return.
How can you apply for an EIN number?
You can apply for your EIN number through the Internal Revenue Service online. The service is free. The IRS also advise that you check your state as well to verify if you need a state number or charter.