Opening your dream business in 2017? You’ll need Form SS-4

Your Guide to State, Local, Federal, Estate + International Taxation

Form SS-4, business, taxAre you taking the leap in 2017 to do what you love? Or investing in a foreign company that you believe in? If either of these answers is ‘yes,’ you most likely will have to fill out a Form SS-4, Application for Employer Identification Number, or EIN. The process is very simple, but if you don’t know where to start, sometimes a 15 minute task can turn into four days or more…trust me, I know. So after reading this blog, you should be able to avoid the latter and avoid the headache.

First, do you need an EIN? There is a nice chart attached to the form that can most likely answer that for you. Click here to see it. Once you have come to that determination here are your options for applying:

  1. Snail Mail/Fax – File or fax it based on the form instructions in the link above. And wait for who knows how long (probably at least a month) before receiving a letter that is to say the IRS received it and it wasn’t lost in the mail. NOT RECOMMENDED
  2. Apply online – This should only take you 15 minutes to complete and you will have your EIN at the end of the application. Click here to apply online. HIGHLY RECOMMENDED
  3. Phone – which is ONLY available to *international applicants and is the ONLY way to apply for international applicants. Call: (267)-941-1099 Hold times can be long at times, so I would suggest giving yourself an hour in total. Once off hold, the process should only take about 10 – 15 minutes.
  4. Assign a third party designee by filling out the Form SS-4 and giving them a signed copy. This allows them to file by one of the methods listed above.

*International applicants meaning you have NO legal residence, principal place of business, or principal office or agency in the U.S. or U.S. possessions.

See Form SS-4 and the instructions here.

Chris Morrison CPA