There’s a lot to consider when you start a company. One is the overall costs of opening your business, whether an LLC or a non-profit organization. Obtaining an Employer Identification Number (EIN), a nine-digit number provided to your business by the IRS for tax purposes is important. But how much does an EIN cost? 

It is essential to obtain an EIN, but you might be concerned about what this will add to your costs. In this article, we will explore the potential costs of gaining an EIN and provide you with additional information about this number. If you have recently started a company and want to know the answer to the question “how much does an EIN cost?”, then keep reading to learn more. 

EIN application cost: How much is an EIN?

One of the questions you may ask if you need to get an EIN is, “How much does an EIN cost?” 

If you apply for an EIN yourself, the best news is that the EIN application cost is completely free. If you can apply for the EIN online, the process should only take 30 minutes. However, you need to have a Social Security Number (SSN), if you are the one applying for the EIN. 

If you do not have this number, then you may have to go to the IRS offices in person so that an assistant there can take you through the necessary process of getting an EIN.

How much does an EIN cost: Getting it with an LLC service company

If you’re starting a business, it’s likely that you are incredibly busy setting things up and working hard on getting your business going. You may not, therefore, feel that taking the time to apply for an EIN is optimal at this stage. You may want to use a reliable LLC and corporation service company to assist you with the EIN application process. 

If you take this route, the EIN application cost will be between $30 and $280, depending on whether you use a one-off service or decide to sign up for a subscription. 

The cost of using an EIN lookup service

If you run a business, there may be some instances in which you need to look up multiple EINs to ensure you and your company’s entities remain tax compliant. For example, if you are a supplier of wholesale products to distributors, you will have to verify their EINs to check that they can legally purchase your products at cost. 

Looking up so many EINs can be time-consuming, and you may not have the resources to do so. That is why using an EIN lookup service like EINsearch.com is best. Our monthly plans are tailored to suit your needs based on how many EIN lookups you need every month. Sign up today or contact our team to find a solution that works for you.

What else do I need to know?

An EIN is an essential part of a company, and there are a few extra things you may want to know about obtaining one:

  • Who can apply: All new businesses need to apply for an EIN for tax purposes, but the people who can apply on behalf of these businesses include the owner, a corporate officer, a member of an LLC, or a third-party designee.
  • Application process: You need to know how to apply for an EIN to get one. Luckily it’s an easy process through the IRS, and you can apply online, by mail, by fax, or over the phone. 
  • Information required: Various requirements and pieces of information are needed when applying for an EIN. Some of these things include the type of business you are a part of and basic information like the name and address. 
  • Timing: It is recommended to apply for an EIN as soon as your company has started, but it is recommended that you should file a tax return or make a tax payment first to ensure you meet your tax obligations. 
  • Use of EIN: The main use of an EIN is for tax purposes, but you can also use it when applying for a business bank account or acquiring a license or permit from the government. 

EIN Cost FAQs

How long does it take to get an EIN?

There is no set time in place that states how long it will take to obtain an EIN, and it will usually come down to how you have applied for it. However, here are the different ways you can apply and how long it will take: 

  • Online: If you go on the IRS website to apply for your EIN, you should receive your nine-digit number immediately if you meet all the requirements. 
  • Fax: Applying for your EIN through fax will take longer and may take around 4 business days after your application has been received.
  • Mail: Mail is the longest application method for your EIN, as it can take up to 4 weeks to receive your number. 
  • Telephone: When you apply for your EIN over the phone, you should receive it immediately if an IRS representative handles it during business hours. 

One more thing that could affect how long it takes to get your EIN is how many applications the IRS is currently handling. 

How long does an EIN last?

When you receive an EIN for your business, it will stay with you as long as your company operates as it does not expire. 

However, you must regularly update your EIN information, such as your business address, if anything changes. If there is a change to the ownership, name, or structure of your company, you will need to apply for a new EIN. 

How can I get an EIN for my LLC?

It is super easy to get an EIN for your LLC or any other company. While it isn’t automatic, you just need to go through the IRS application process. This means sending off your LLC’s confirmation document to the IRS either online, via fax, via mail, or by providing the documentation information over the phone.