Updating your EIN (Employer Identification Number) information is essential for any business, big or small. It is important to keep all your business records up-to-date, and this includes updating your EIN information with the IRS. In this step-by-step guide, we will take you through the process of updating your EIN information online.
Step 1: Gather all the Necessary Information
Before you start the process of updating your EIN information online, you must gather all the necessary information required for the process. Here are the details you will need:
-Your EIN
-The legal name of your business
-The current business address
-The current responsible party’s name, address, and TIN (Taxpayer Identification Number)
Step 2: Visit the IRS Website
To update your EIN information online, you need to visit the IRS website. Once you’re on the website, scroll down to the ‘Businesses’ section and click on ‘Employer ID Numbers’ (EINs). From there, click on ‘How to Update EIN Information’.
Step 3: Choose the Correct Type of Entity
Once you have reached the ‘How to Update EIN Information’ page, choose the correct type of entity for your business. There are several options available, such as sole proprietorship, partnership, corporation, etc., so make sure to choose the correct one.
Step 4: Fill out the Online Form
After selecting the appropriate type of entity for your business, you will be directed to a page where you will have to fill out the online form. Make sure to fill in all the required information accurately and double-check before submitting the form.
Step 5: Verify your Information
After filling out the online form, you will be sent to a confirmation page. Here you have to verify all the information you provided before submitting the form. You can go back and make changes if necessary.
Step 6: Submit the Online Form
Once you have verified all the information and ensured that everything is accurate, you can submit the online form. It is important to note that it may take up to four weeks for your changes to be reflected in the IRS records.
Conclusion
Updating your EIN information online is an easy and convenient process that can save you a lot of time. Make sure to keep all your business records up-to-date to avoid any complications in the future. By following these simple steps, you can ensure that your EIN information is always accurate and up-to-date.
