Since the US Internal Revenue Service (IRS) requires employers to have an Employer Identification Number (EIN), businesses that have employees must have an EIN, which is also commonly referred to as "Federal Tax Identification Number" (FTIN).Even if you are a sole proprietor who doesn't have any employees, you might need to obtain an EIN from the IRS in order to open a business bank account or to establish a retirement plan for yourself. This guide will be focusing on people based in the state of New York, and will provide you with information and resources about how to get an EIN in New York.

What is an EIN?

An EIN, or Employer Identification Number, is a nine digit number that the IRS assigns to identify your business. It is just like a Social Security number for an individual except that it is used for your business, not you as an individual person. An EIN is also sometimes referred to as a “Federal Tax Identification Number” (FTIN).

An EIN is a unique identifier your business needs for a variety of reasons, such as:

Opening a business bank account

Filing tax returns

Applying for business permits and licenses

Hiring employees

Establishing a business retirement plan

How to Apply for an EIN in New York

There are several ways to apply for an EIN in New York. The easiest and most efficient method is to apply online with the IRS. Applying online is free and is generally the fastest way to receive your EIN.

Step 1: Gather Necessary Documents

Before applying for your EIN, you need to have all of your business’s necessary documents at the ready. This includes proof of your business entity such as a copy of your Articles of Incorporation, LLC formation documents, or a Partnership Agreement. You will also need a valid Social Security number for all owners, partners, or trustees. Lastly, you should have your form of payment (debit/credit card or checking account information) as well as contact information for the business.

Step 2: Determine Which Form to Fill Out

The type of form you fill out will depend on the type of business entity you are registering. The various forms available are:

Form SS-4: for most businesses that are creating a domestic entity

Form SS-8: for registering a business as a foreign entity in the United States

Form SS-9: for registering a trust, corporation, non-profit corporation, general partnership, limited liability company, or sole proprietorship

Step 3: Apply Online with IRS

Once you have gathered all the necessary documents and chosen the correct form to fill out, you can begin the application process. You can apply online with the IRS for free on their website. Simply input the necessary information and submit your application.

Step 4: Follow Up

Once you have submitted your application, the IRS will process your application and assign you an EIN. It can take 4-5 business days before you receive your EIN in the mail. However, if you need your EIN immediately, you can call the IRS EIN Hotline at 1-800-829-4933.

Finding Legal Support

When it comes to understanding the complexities of obtaining an EIN and the entire process of starting a business in New York, it’s best to have legal counsel that understand the local regulations. Fortunately, there are companies like UpCounsel that provide high quality, cost-effective legal services such as one-time consultation and entire freelance legal departments. UpCounsel has a network of experienced lawyers with an average of 14 years of experience. Profiles of their online attorneys also display client ratings and reviews of recent work.



Getting an EIN,

EIN in New York