Employer identification number (EIN) is an essential unique identifier in filing taxes. Also known as business tax ID, the nine digital number is integral in your day to day business operations that include business registration, applying for a business loan, opening a business bank account and so on. Also known as federal tax identification number or Federal employer identification number, all business entities operating within America are assigned this unique number through IRS for identification purposes.
Ideally, Employer Identification Number (EIN), or tax ID number, is a critical requirement in the running of business enterprises, among them corporations, limited liability companies, and partnership businesses.
On the contrary, sole proprietors and single-member limited liability companies are not required to apply for an EIN tax number.
Why Do You Need an EIN?
The Internal Revenue Service IRS issues EIN to businesses for identification. Companies and small businesses need an EIN when filing tax returns and other documents.
How Can You Apply for an EIN or Taxpayer ID?
Business entities can apply for an employer identification number via either email or smartphone. The process is carried out through the Internal Revenue Service (IRS) website. A notification containing the EIN is normally sent via email upon approval.
If you have misplaced your EIN and are wondering how to go about it, you can retrieve it in various ways.
Are There Risks of Losing Your EIN?
Losing your EIN can pose a serious risk to your private data. This might lead to unscrupulous individuals accessing crucial information about your business bank details and corporate credit card accounts.
Additionally, the fraudsters can easily have access to your email and ascertain your personal credit information, social security number, or other financial information. The exposure might be malicious to your private data and, to the extreme, lead to financial loss.
What to Do if You Lose Your EIN
The following are varied insights about what you should do in case you lost EIN.
1. Refer to the Computer-Generated Notice You Received Upon Approval
If you had earlier applied and received your computer-generated employer identification number EIN for a business, then you can follow up on the notification you received when applying for an EIN.
The confirmation sent by internal revenue service after a successful application is integral in retrieving your business’s EIN.
2. Contacting Finance Institution or Agency You Could Have Interacted With
Financial institutions or agencies you could have interacted with either for license application or bank account opening is another option you can use in trying to access your Tax ID number. In this case, you can contact the institutions to secure your Tax ID number.
Contacting the institutions to secure your EIN is integral in securing your accounts from being accessed by unscrupulous individuals.
Alternatively, review copies of earlier bank or tax returns to have access to your EIN. Earlier forms you could have filed and submitted should have your EIN.
Should you gain access to earlier filed forms, rest assured that you will get your lost EIN that is usually noted down on those forms before submission.
3. Seek Help From the Internal Revenue Service IRS
If you aren’t able to access your Tax ID number through the options given above, you can opt to call the IRS for quick assistance. Call the IRS during normal working hours. 7.00am-7.00pm through the Business Specialty Tax line 800-829-4933.
Ensure you contact the IRS between Monday – Friday. The IRS Tax service agent will ask a few questions to ascertain whether you are the rightful owner of the TaxID before providing the number to you via the phone.
This is one of the fastest and reliable means you can try out if you are stuck on how to gain access to your lost EIN.
Typically, the IRS customer service agent will release the EIN under particular circumstances that include only authorized persons allowed to own an EIN.
Authorized persons allowed to receive the number via a call include a partner in a partnership business, executor of an estate, corporate officer, sole proprietor, or trustee of a trust.
4. The Use of the Edgar System in Retrieving the EIN
The use of the Edgar System is an alternative you can use to retrieve your EIN. The system is approved and regulated by the US Securities and Exchange Commission (SEC), regulating the electronic gathering of data.
Edgar is a free database accessible online by anyone through the US Securities and Exchange Commission (SEC). The service is resourceful in getting EIN data. Various individuals sourcing for different data can retrieve any data using the platform through various keywords.
This depends on what one is sourcing for on the database. In other words, the free database can help retrieve all kinds of data available in the American market. Try out this alternative, and I am sure you won’t be disappointed.
Are you still worried about the safety of your EIN and wondering how to go about it? Remember, the dangers of losing your EIN are enormous. Exposing your data to unscrupulous individuals is one of the worst risks you should avoid at whatever cost.
To avoid eventualities associated with misplacing your Tax ID number, this article has spelled out many ways you can apply to regain access to your lost EIN. Additionally, should you lose the number and fail to regain access, ensure you alert all financial institutions and agencies you work with to secure the EIN.
Lost EIN Number? Contact the Professionals
Have you tried out all the options highlighted here and still not able to retrieve your Taxpayer ID?
Silver Tax Group is one of the United States’ best agencies that you should try out to resolve your tax-related problems. With years of experience in helping businesses and individuals fix their tax problems, we are always dedicated to offering exceptional tax services to our clients anytime they need us.
We will assist you in retrieving your Employer identification number within the shortest time possible. Our customer service is available 24/7 to help you address your tax-related issues. Check our website and contact us for more information about your needs and other related services.