FEIN - Important Information

A Federal Employment ID Number (FEIN) is a number assigned by the IRS that identifies your business.

FEIN is like a social security number for your business. Obtaining a FEIN is beneficial in many ways; it would prevent identity theft, and your taxes will be separate. You would also need a FEIN if you are going to have employees.

If you answer "Yes" to any of the following, then you need a FEIN:

  1. Do you operate your business as a Corporation, LLC or a partnership?
  2. Do you file these tax returns: Employment, Excise, or Alcohol, Tobacco & Firearms?
  3. Do you withhold taxes on income, other than wages, paid to a non resident alien?
  4. Do you have a Keogh plan? (Tax Deferred Pension Acct)
  5. Are you involved with any of the following organizations: Trust, Exempt, Estates, Real Estates Mortgage Investment, Nonprofit, Farmer's Coop, Plan Administrators?