How to Renew an EIN


 An Employer Identification Number (EIN) is a unique nine-digit number assigned to businesses by the Internal Revenue Service (IRS). If you've previously obtained an EIN for your business, you may need to renew it in certain situations, such as if you've undergone a change in ownership or if your business has been inactive for a period of time. Here's what you need to know about renewing an EIN.

Do You Need to Renew Your EIN? Generally, EINs don't expire, so you don't need to renew them. However, if you've undergone a significant change in ownership, such as a merger or acquisition, you may need to apply for a new EIN. Additionally, if your business has been inactive for a period of time and you haven't filed tax returns or made tax payments, the IRS may close your business account and you'll need to apply for a new EIN to re-establish your business.

How to Renew Your EIN If you need to apply for a new EIN, you can do so using the same process you used to obtain your original EIN. You can complete the IRS Form SS-4 online, by mail, or by fax. Make sure to indicate on the form that you're applying for a new EIN rather than a replacement or correction of an existing EIN.

When completing the Form SS-4, you'll need to provide updated information about your business, including your legal name, address, and type of business entity. You'll also need to provide information about the responsible party or "principal officer" for the business, including their name, social security number, and contact information.

Once you've submitted the Form SS-4, the IRS will review your application and assign you a new EIN. This process typically takes only a few minutes if you apply online, but may take several weeks if you apply by mail or fax.

In conclusion, renewing an EIN is generally not necessary unless you've undergone a significant change in ownership or your business has been inactive for a period of time. If you do need to apply for a new EIN, you can do so using the same process you used to obtain your original EIN. Be sure to provide accurate and updated information to ensure that your business is properly identified for tax purposes.

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