How Long Does It Take to Get an EIN?
Obtaining an Employer Identification Number (EIN) is a crucial step for businesses in the United States. Whether you’re starting a new company, hiring employees, or opening a new location, an EIN is required for tax purposes and to establish your business entity. But how long does it take to get an EIN? Let’s delve into the process and provide you with a clearer understanding of the timeline involved.
Understanding the EIN Process
The process of obtaining an EIN is relatively straightforward. The Internal Revenue Service (IRS) offers three methods for applying for an EIN: online, by phone, and by mail. The method you choose can affect the time it takes to receive your EIN.
Online Application
The most convenient and fastest way to get an EIN is by applying online through the IRS website. This method is available 24/7, and the process typically takes less than five minutes. Once you submit your application, the IRS will immediately provide you with your EIN. This makes the online application the quickest option, with an average processing time of just minutes.
Phone Application
If you prefer to apply by phone, you can call the IRS Business & Specialty Tax Line at 1-800-829-4933. The representative will guide you through the application process, and you’ll receive your EIN immediately after completing the call. While the phone application is also quick, it may take a few minutes longer than the online method due to the time it takes to speak with a representative.
Mail Application
Applying for an EIN by mail is the slowest method, with an average processing time of four to five weeks. To apply by mail, you’ll need to complete Form SS-4 and send it to the IRS. The form can be downloaded from the IRS website and should be mailed to the appropriate address based on your business location. Once the IRS receives your application, they will process it and mail your EIN to you.
Factors Affecting Processing Time
It’s important to note that the processing time for your EIN application can be affected by several factors, including the completeness of your application and the volume of applications the IRS is processing at the time. If your application is incomplete or requires additional information, it may take longer to process.
Conclusion
In conclusion, the time it takes to get an EIN can vary depending on the method you choose. The online application is the fastest, with an average processing time of minutes, while the mail application is the slowest, with an average processing time of four to five weeks. By understanding the process and the factors that can affect processing time, you can ensure a smooth and efficient experience when applying for your EIN.
