The consensus advice when forming a new company is to apply for a tax ID number sooner rather than later. Although I do not plan to have any revenues for another couple of years, I thought it was best to get this detail out of the way, particularly as I am currently based outside the US and I didn’t know how long the process would take from overseas.
I needn’t have worried. The IRS has a very efficient online process for issuing Employer Identification Numbers (EINs). There are only two basic eligibility requirements:
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You may apply for an EIN online if your principal business is located in the United States or U.S. Territories.
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The person applying online must have a valid Taxpayer Identification Number (SSN, ITIN, EIN).
The online application only took a few minutes to complete. The confirmation of receipt of the application and the issuance of the EIN were in my email inbox a few minutes later.