The term EIN is commonly used interchangeably with TIN. A TIN, otherwise known as a Tax Identification Number, is a unique number issued to a business, person, or other legal entity. There are several types of Tax Identification Numbers, such as an Employee Identification Number (EIN), a Social Security Number (SSN), or an Individual Tax Identification Number (ITIN). These unique nine-digit numbers are used by the Internal Revenue Service (IRS) and many other institutions such as banks and government entities to help identify a person, business or other legal entity.

Businesses need an EIN for almost everything they do. Whether you form a business entity, a trust, operate as a sole proprietor, or are self-employed, we recommend all business owners not wishing to use their Social Security Number as their TIN apply for an EIN as soon as they begin to operate.

Whether operating as a sole proprietor, self-employed or as a business entity, EINs are used almost daily. From filing a tax return or submitting a document to the IRS (or other government entity), to opening a bank account, or applying for a loan or credit, EINs are used to identify the individual or business providing the record.