Does Your Business Need an FEIN?

Thanks for sharing this!

What’s an FEIN? FEIN is the acronym for a Federal Employer Identification Number. Similar to a Social Security number, but for businesses, trusts and other entities, FEIN’s are assigned by the Internal Revenue Service.

Who should have an FEIN? If you have employees, you will need an FEIN in order to file payroll reports, even if you are a sole proprietor. Corporations, trusts and certain estates are also required to have identification numbers.

How do I get an FEIN? The good news is they’re free, and you have several choices if you need to obtain one. For instance, you can apply on-line at the Internal Revenue Service web site at You can also download Form SS-4, Application for Employer Identification Number, from the same web site. Once you’ve completed the form, call the IRS at the number assigned to your region. Either way, your FEIN will be assigned to you, and you can begin using it immediately.

What do I use my FEIN for? Your FEIN identifies your business on your federal income tax returns, including payroll returns. Provide your bank with the FEIN when you set up your account. Use your FEIN on all documents relating to corporate business.

You might also like these posts

Article – Preparing for Hurricane Season The Atlantic hurricane season begins June 1. While the 2014 season is expected to be a mild one, mild doesn’t mean storm-free. Getting ready early...
Article — Locked Out What’s on your computer? Your manuscripts? Work? Photos? What would you do if you were denied access to those files—if you were locked out by rogu...
Article — Tax Identity Theft Awareness Week Taxes are scary enough, without adding tax identity theft to the mix. The costs—$3.6 billion a year according to an estimate by the US Treasury In...

We write. Visit us in Carpenter Country, a magical place that, like our stories, is unreal but not untrue.

Tagged with: ,