Businesses use this ID while filing tax returns, obtaining business licenses and industrial permits, opening bank accounts, and for various other purposes like submitting Form 1099 for contracting work. An EIN is for a business what a Social Security number (SSN) is for an individual. Why Do You Need an EIN?Īn EIN, or an Employer Identification Number, is a unique nine-digit number issued by the Internal Revenue Service (IRS) to a business entity. If you lose or misplace the original confirmation letter, you can request the IRS for a verification letter, which would for all purposes, substitute the original letter or certificate. The IRS issues this letter in Form CP 575 within eight to 10 weeks of assigning you an Employer Identification Number (EIN). You may need a copy of EIN letter from IRS on various occasions to confirm your tax ID to your bankers, financers, and vendors. ![]() ![]() Getting a Copy of an EIN Letter From the Bank ![]() How to Get an EIN Verification Letter From the IRS 4.
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