I'm starting a small side business (single-member LLC) and I want to get my EIN directly from the IRS. Do I have to go through a formation service like LegalZoom or Incfile, or can I just apply online myself? I'd rather not pay extra fees if it's not necessary.
EIN
Can I apply for an EIN online without using a formation service?
You absolutely don't need a formation service. The IRS has an online EIN assistant that's free. Just go to irs.gov and search for EIN assistant. It takes about 10-15 minutes if you have all your info ready.
Second that. I used it last year for my LLC. The only catch is it's only available during certain hours (I think weekdays 7am to 10pm ET). If you try outside those hours it'll tell you to come back.
Make sure you have your SSN or ITIN handy, and the LLC's articles of organization. The online form asks for the responsible party's info and the business address. It's pretty straightforward.
One more thing: once you get the EIN, you can download the confirmation letter immediately. No need to wait for mail.
Is there any downside to doing it yourself vs through a service? I've heard some services bundle it with registered agent stuff, but if you don't need that, seems pointlgess.
The only downside is if you mess up the form.But you can review before submitting. Services just fill it out for you, but they charge like $100+ for something that's free and easy.
Thanks everyone.I'll try the IRS site directly. I already have my articles filed, so I think I'm good. Appreciate the quick responses.
Also, if you're a single-member LLC, you might not even need need a separate EIN if you're a disregarded entity. But many banks require one to open a business account, so it's still useful.
True. And if you ever hire employees or change tax classification, you'll need it. Better to get it now.
Good to know. I might do the same for my freelance gig. Thanks for the info.