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An employer identification number (EIN) is a requirement for most businesses. Getting one is free and easy

Sumary of An employer identification number (EIN) is a requirement for most businesses. Getting one is free and easy:

  • This article was reviewed for accuracy and clarity by Lisa Niser, an expert on Personal Finance Insider’s tax review board.
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  • Businesses that meet any of the following conditions must have one: Has employees (including household employees)Operates as a corporation or partnershipHas a Keogh planAdministers an estate or trustFiles tax returns for employment, excise, or alcohol, tobacco and firearms.
  •  Withholds taxes on income paid to a non-resident alien Is involved with non-profit organizations, farmers’ cooperatives, real estate mortgage investment conduits, or plan administrators Do I need an EIN if I’m self-employed?
  • Businesses that don’t need an EIN are those that are not required by the IRS to file taxes separately from their personal income taxes.

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