• An EIN (Employer Identification Number) is a unique nine-digit number assigned by the IRS to businesses for tax identification.
• EINs are essential for opening business bank accounts, filing taxes, and hiring employees.
• You can apply for an EIN number online, by mail, fax, or phone (for international applicants).
• If you lose your EIN, you can retrieve it through IRS records or previous tax filings.
• Having an EIN simplifies business operations and strengthens credibility with banks, vendors, and partners.

The following article is offered for informational purposes only, and is not intended to provide, and should not be relied on, for legal or financial advice. Please consult your own legal or accounting advisors if you have questions on this topic.

What is an EIN Number?

An Employer Identification Number (EIN) is essentially an identification number for your business. Issued by the IRS, it uniquely identifies your business entity for tax reporting purposes. Every legal business entity, including LLCs, corporations, partnerships, and some sole proprietors need an EIN to operate efficiently.

An EIN is dedicated solely to business activities, which helps separate your business finances from your personal finances — a key step in maintaining good financial hygiene.

What is an EIN Number Used For?

EINs are versatile and required for multiple business activities. You’ll need an EIN to:

• File federal and state taxes
• Open a business bank account or merchant account
• Apply for loans or credit lines
• Hire employees and manage payroll
• Apply for business licenses and permits

Using an EIN for business transactions also improves security and helps protect your personal information.

Why Having an EIN Number Matters

An EIN is more than a bureaucratic requirement; it’s a tool for efficient business management. Key benefits include:

• Simplified banking and accounting: Most banks, including those partnered with Flex, require an EIN to open business accounts.
• Tax compliance: Filing taxes, submitting payroll, and handling other tax-related tasks become smoother.
• Access to business credit: Lenders usually require an EIN to extend lines of credit or loans.

Businesses that operate without an EIN may face difficulties opening accounts, applying for credit, or legally hiring employees.

How to Get an EIN Number

Getting an EIN is straightforward, especially if you follow IRS guidelines:

1. Determine your eligibility: Only businesses with a legal structure (LLC, corporation, partnership, or qualifying sole proprietorship) can apply.
2. Apply online (fastest method): The IRS allows immediate issuance for U.S.-based entities.
3. Apply by mail or fax: Complete Form SS-4 and submit via the IRS. Processing can take 4–6 weeks.
4. Apply by phone (international applicants): Non-U.S. entities can call the IRS to receive an EIN.

Pro Tip: Keep your EIN document safe. Many businesses store it in secure cloud systems.

How to Find Your EIN Number

If you’ve previously applied for an EIN but can’t locate it, there are ways to recover it:

• Check prior IRS tax filings (business returns, payroll tax forms)
• Review your bank account documents, as many banks require an EIN for business accounts
• Contact the IRS Business & Specialty Tax Line at 800-829-4933

Pro Tip: If you’re onboarding Flex products like business accounts or virtual cards, linking your EIN ensures your business verification is quick and seamless.

Benefits of Having an EIN Number

Having an EIN brings several strategic advantages beyond compliance:

• Separation of business and personal finances
• Access to business banking solutions, like Flex’s virtual cards and payment tools
• Simplified hiring and payroll management
• Credibility with partners, lenders, and vendors
• Eligibility for business credit and government programs

Integrating your EIN with platforms like Flex helps streamline payments, manage expenses, and track business financial activity efficiently.

Final Thoughts

Understanding what an EIN number is and how to manage it is foundational for any business owner. From tax compliance to opening bank accounts and accessing credit, an EIN streamlines operations and reinforces your business’s credibility.

By integrating your EIN with Flex products, you can simplify payments, manage expenses, and keep your business finances organized while focusing on growth rather than administrative hurdles.