It is a common question whether you can transfer your existing EIN (Employer Identification Number) when you change the name of your business or ownership structure. This article will provide you with an answer to this question and explain the circumstances when you may need a new EIN.

Can I Transfer My EIN Number?

The simple answer is no; most of the time, a new EIN will need to be assigned when there is a change of ownership. Although changing the name of your business does not require you to obtain a new EIN, you may wish to visit the Business Name Change page to determine if you need to take any additional steps.

When Does a New EIN Need to be Assigned?

The Internal Revenue Service (IRS) requires that a new EIN be assigned in the following circumstances:

  • When the business structure changes (e.g. from a sole proprietorship to a partnership)
  • When there is a change of ownership
  • When the business is bought from another company

What Should I Do if I Need a New EIN?

If you need to obtain a new EIN, you can apply for one online or contact the IRS directly at 800-829-4933. Their hours are Monday through Friday from 7am to 7pm, local time (based off the area code you’re calling from).

Conclusion

In most cases, when there is a change of business structure or ownership you will need to obtain a new EIN. You can apply for a new EIN online or contact the IRS directly for more information. For more great resources on selling a business and business brokers, visit Atlantabusinesses.com!

Is it possible to reuse an old EIN number for a new business?

Once a business entity is given an EIN, this is the permanent Federal taxpayer identification number for them. The EIN will remain the same even if the entity does not use it to file Federal taxes. It is not possible for the EIN to be reused or assigned to another business.

Do I need to obtain a new Employer Identification Number if I relocate?

If you alter the name of your business, change its location, or run more than one business, you will not need to get a new Employer Identification Number.

Will my EIN number remain the same if I relocate to a different state?

The Internal Revenue Service (IRS) utilizes your EIN for federal taxation purposes, so relocating your business within the United States as a sole proprietor would not typically have an impact on your EIN. That being said, you may be subject to certain state taxes that are applicable to the new area you have moved to.

What is the process for changing my EIN number?

If the Responsible Party for your LLC has been altered, you must promptly inform the IRS as per their regulations. You can do this by submitting Form 8822-B, which can also be used to update your LLC’s address on file with the IRS.