You might need to conduct an EIN search if you own a business and need to locate your number for tax purposes. Or, your job might require you to verify business details, so you might need to verify multiple EINs in a given month.
Whether you need a one-time search or regular bulk orders, you can search for a business’s EIN with Searchbug.
What is an EIN Search?
An employer identification number (EIN), or federal employer identification number (FEIN) is a tax ID number for a business. Individuals are identified with social security numbers (SSN), and business entities are identified with EINs.
EIN vs. SSN
An EIN is very similar to an SSN. They are both 9-digit identifying numbers. While an SSN is assigned to an individual, an EIN is assigned to a business. You can tell the numbers apart because they are formatted differently. An SSN is formatted xxx-xx-xxxx while an EIN is formatted xx-xxxxxxx.
Once someone is assigned an SSN, he or she is identified by that number forever. However, a business can be assigned more than one EIN over the course of its lifetime. This is because the business entity can change over time.
Business entities that require EIN registration are corporations, partnerships, and limited liability companies (LLCs). Sole proprietorships can request EINs, but it isn’t required. Sole proprietorships can be identified with an SSN.
Business entities can change over time. A business that begins as a sole proprietorship could be assigned one EIN initially, but if the company grows to include a few employees, then the nature of that business changes. When it does, it receives a new EIN.
The following situations might also be assigned EINs:
- Estates of deceased people
- Employee benefit plans
- Personal service corporations
- Tax-exempt organizations
- Household employees/agents
- Individual bankruptcy
- Real estate mortgage investment conduits (REMIC)
Businesses use their EINs when they are required to file employment tax returns, excise tax returns, and alcohol/tobacco/firearms returns.
EINs are necessary for a number of reasons. Here are some situations in which someone might need to register for an EIN.
If you want to open a bank account for your business, the bank or credit union you work with will require a valid EIN. This applies to estates and non-guarantor trusts as well. A business might also need to provide a valid EIN if financing is necessary.
If you own a business and need to hire employees, the IRS will use your EIN to track payroll tax remittances and business income taxes. Self-employed persons need to obtain EINs to facilitate federal tax treatment on self-employed retirement plans.
Obtaining an EIN is voluntary for sole proprietorships unless the business files for bankruptcy. Anyone purchasing or inheriting an existing business that will be run as a sole proprietorship will need an EIN as well.
If you need to locate your own EIN or the EIN of another entity, you can order an EIN search to get the information. EINs are considered sensitive information, like SSNs, so you must have a legitimate reason for requesting the search.
Reasons to Conduct EIN Search
There are many reasons why you might need to conduct an EIN search.
First, you might have forgotten or misplaced your own EIN. It will be printed on your tax documents, but if you’ve misplaced these, you might need to search for it. You will need it come tax time.
Second, you might need to verify the legitimacy of a business. If you are a business owner yourself and are approached by vendors and potential investors, clients, or business partners, you might want to search for the business’s EIN to make sure it’s a real, registered company with the IRS.
Third, you might have a job that requires you to verify EINs regularly. For example, loan officers need to verify the EINs of companies that apply for loans. And if you work regularly with charitable organizations, you might want to verify their information too.
As an individual, if you need to apply for unemployment benefits, your state may require the EIN of your former employer.
There are other business scenarios where you might need to locate an EIN. If you need to complete court documents, report payments on a 1099, collect or file for a judgement, you might need to conduct an EIN search.
In any case, it’s important that the EIN is correct. It’s easy to transpose the numbers, and sometimes fraudsters can provide incorrect EINs intentionally. Incorrect EINs can lead to conflicts on tax returns resulting in audit or rejection. So it’s important to verify this information to avoid mistakes, lengthy or delayed processes, and fraud.
How to Order an EIN Search
Ordering an EIN search with Searchbug is easy. In just a few steps, you can request your own EIN or another company’s.
The company name will be required. You must have this information as well as the company’s full address to request the search. Other information that will be helpful in the search is the name of the owner, the company’s previous address (if applicable), and any additional information you can provide the investigator.
When you order an EIN search, you hire a private investigator who personally conducts a real investigation to locate the information you request.
Results include the company FEIN, last known address, and other executive information if available. It costs $134.97 for an EIN search, and if the investigator isn’t able to find any information on the company, you are eligible for a $115 no information refund.
It takes about 1-3 business days to receive search results. If you are a new customer, and this is your first order request, it will also take 1-3 business days to process your verbal verification. Since EINs, like SSNs, are sensitive information, you have to verify your authority to request it.
Bulk EIN Search and Other Bulk Search Options
If you work in an industry that requires the EINs of multiple companies as part of your regular operations, you would benefit from a bulk EIN search rather than a series of individual searches.
You can request a quote for ten or more of the same search. This applies to EIN search as well as any other investigator searches. When placing a bulk order, you can order the same kind of investigator service for multiple subjects or place a custom order.
Just select an investigative or batch processing service from the dropdown box, enter any additional details (special requirements, number of records, etc.), and click the Order button!
Once you click Order, you will be taken to an order confirmation page where you can upload the file with the information for your investigator. You won’t be charged yet; Searchbug will contact you with a quote first and then will obtain payment authorization.
Bulk processing is available for any of the searches Searchbug offers. This includes assisted SSN and name matching, employment history report, verified place of employment search, and much more.
Verifying company details is simple. Use an EIN search to locate your own EIN or that of another company. If your job requires multiple searches regularly, save yourself some time and place an order for batch processing. Get a quote for your order first. Whether you need to locate or verify a company’s EIN or individuals’ SSNs, work history, place of employment, contact information, etc., you can order batch data processing to get the information you need. Click here to fulfill your data needs.