LLC Require EIN?


0

I have an LLC that will be a passthru entity (sole owner).

  • Is such an entity required to have an EIN to do business?
  • If not, how would you get banking accounts, LoC, etc without an EIN to legally shelter and conduct business as an LLC and devolve it into a Sole Proprietorship?

LLC USA EIN Sole Proprietorship Legal Entity

asked Mar 23 '13 at 06:06
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Tek Tengu
101 points

1 Answer


1

No, LLC doesn't require EIN if you don't have employees.

You can get an EIN in order to open a bank account, if the bank requires it, but you're not legally required to have it. From tax perspective, single-member LLC is sole proprietorship.

answered Mar 23 '13 at 06:25
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Littleadv
5,090 points
  • For tax purposes but not for legal liability purposes, correct (is a sole proprietorship)? I am assuming you are required to get an EIN at the point in time you need to file IRS and/or state revenue forms that require disbursement to more than the single member? Is there a way to obtain an EIN without having that EIN tied to the originating member's EIN/SSN? – Tek Tengu 5 years ago
  • @Tek if you have more than one member, IRS sees you as partnership, and then you do need EIN. Since you said you're a sole owner, this is not the case for you. You don't file any LLC-related form with the IRS, only schedule C. You must have the EIN tied to someone's SSN, that someone would be the "responsible person" for the EIN entity tax filings. – Littleadv 5 years ago
  • Getting an EIN is too easy. Just do it. I'm a single-member LLC and it took about 2 minutes on the IRS website. – James Adam 5 years ago
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LLC USA EIN Sole Proprietorship Legal Entity