Having a Federal Employer Identification Number (EIN) is necessary for businesses in the United States. Obtaining an EIN is a simple process but it can be confusing for new business owners. In this article, we discuss the answers to the most frequently asked questions about Federal EINs.

An EIN is a nine-digit number issued by the Internal Revenue Service (IRS) for tax filing and other business activities. It is needed when establishing a business relationship with vendors, filing business taxes, and for hiring employees. It serves as a unique identifier for a business and it is required for businesses with any employees.

All businesses located in the United States, including sole proprietorships, partnerships, LLCs, and corporations must obtain an EIN. Additionally, foreign businesses must get an EIN if they have employees or open a bank account in the United States. However, businesses that are owned and operated by a single person (and there are no employees) may not have to obtain an EIN.

When obtaining an EIN, business owners must apply either online, by mail, or by fax. Applying online is the fastest way to obtain an EIN since the IRS typically responds the same day. Applying by mail may take up to four weeks, depending on the demand at the time of application. Applying by fax may take up to two weeks.

Businesses located in Chicago must obtain an EIN since it is required of all businesses operating in the United States. Additionally, the application process is the same for businesses located in Chicago as it is for businesses located elsewhere in the United States. When applying for an EIN, business owners located in Chicago should submit their applications to the IRS office that services their state. Unfortunately, the IRS does not have a specific office serving Chicago, so applications must be submitted to either the Kansas City office (located in Missouri) or the Ogden office (located in Utah).

If business owners located in Chicago have any additional questions regarding the application process or need legal help for their EIN, they can always find experienced attorneys on UpCounsel. On UpCounsel, business owners can find experienced lawyers who are knowledgeable about the local legal regulations in Chicago. Furthermore, clients can access high quality attorneys on demand and find profiles of attorneys that display ratings and reviews of their recent work.

Businesses located in Chicago must obtain an EIN in order to operate legally in the United States. Although the process is quite simple, business owners in Chicago should consult experienced attorneys if they have any further questions. On UpCounsel, business owners can find a wide selection of experienced legal advisors who can answer any questions business owners may have.



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