Your Essential Guide to Obtaining an EIN for Your Business

Getting an Employer Identification Number (EIN) is one of the first steps to making your business official—and it’s essential for opening a business bank account, filing taxes, hiring employees, and building business credit. If you’re ready to separate your business and personal finances, or you’re just starting out, this guide will walk you through the process and connect you to more resources for every stage of your business journey. For a full overview of how this fits into your banking strategy, check out Choosing the Best Business Bank: Key Factors and When to Switch Accounts.

What is an EIN and Why Do You Need One?

Think of your EIN as a Social Security Number for your business. The IRS uses it to identify your company for tax purposes, and most banks require it to open a business account. It’s also a must-have if you plan to hire employees or want to establish business credit.

How to Apply for an EIN

Online Application (Fastest & Easiest)

• Head to the IRS EIN Assistant during business hours.

• The application takes about 10–15 minutes.

• You’ll get your EIN immediately after submitting.

• Requirements: Valid SSN or ITIN, and your business must be physically located in the US or US territories.

Mail Application

• Complete IRS Form SS-4.

• Mail it to the IRS (address on the form).

• Processing time: 4–8 weeks.

• Good option if you’re not eligible for the online application.

Fax Application

• Fill out Form SS-4 and fax it to the IRS.

• Include a return fax number.

• Processing time: About 4 business days.

Phone Application (International Applicants Only)

• Call the IRS at +1-267-941-1099.

• Have your completed Form SS-4 handy.

• You’ll usually get your EIN during the call.

What You’ll Need Before You Apply

• Legal business name (must match your registration)

• Business address

• Business structure (LLC, Corporation, Sole Proprietorship, etc.)

• Reason for applying

• Principal officer or responsible party’s name and SSN/ITIN

For a full checklist of what you’ll need to open a business bank account after you get your EIN, visit What You Need to Open a Business Bank Account.

Common Mistakes to Avoid

• Entering the wrong business name or structure

• Applying for multiple EINs for the same business

• Not saving your EIN confirmation—keep it somewhere safe!

Need a Hand?

If you’d rather not go it alone, you can:

• Hire a business attorney (especially for complex structures)

• Use a business formation service

• Work with a CPA or registered agent

• Check out state government resources or workshops

Just remember: applying for an EIN through the IRS is always free. Be wary of companies charging fees for this service.

What’s Next?

Once you have your EIN, you’re ready to open a business bank account and start building your business’s financial foundation. If you’re comparing banks or want to know what features matter most, check out How to Compare Business Banks and Accounts. And if you’re self-employed and wondering about the benefits of separating your finances, don’t miss Why Self-Employed Professionals Should Consider Incorporating and Separating Finances.

Getting your EIN is a quick win that unlocks the next level for your business. For the full playbook on building a smarter banking setup, head to our Choosing the Best Business Bank guide.