sole proprietorship switch from SSN to EIN

[BradMajors]

I have run my sole proprietorship for many years using my SSN. I need to switch to using an EIN so that I can hire employees.

How do it, and what are the issues relating to making this change? I have bank accounts, contracts, tax records, business licenses, etc. that currently use my SSN. Can I overlap the usage of my SSN and EIN for a while?

[Freelancier]

This might help: Apply for an Employer Identification Number (EIN) Online (http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online)

You'd still need to use your SSN for a lot of things, but for setting up business-related bank accounts and licenses, you could change over to using the EIN over time, yes. Let your accountant know you're doing this and the new EIN so that they can take care of everything the next time you file paperwork with the government.

[BradMajors]

My understanding is that you use the same EIN for all you businesses. I obtained an EIN many years ago for a different business with a different name. This other business no longer exists and I can not remember its EIN number. Do I use this old EIN for my current business or do I apply for a new one?

[Freelancier]

From that link I just posted:


We cannot process your application online if the responsible party is an entity with an EIN previously obtained through the Internet. Please use one of our other methods to apply. See How to Apply for an EIN. We apologize for any inconvenience this may cause you.

So it depends on whether you got it over the internet before. Worst case: try it, it's free!