Reda | Ciprian | Magnone, LLC

All about EINs

An EIN is an “Employer ID Number” issued by the Internal Revenue Service.  (Sometimes, this is referred to as a Federal Employer ID Number or “FEIN”)  EINs are necessary for decedent’s probate estates, non-grantor trusts, corporations, and LLCs. Even single member limited liability companies, which are treated by the IRS as disregarded entities, can obtain an EIN.  The EIN is basically the “social security number” of for entity.

Years ago, if someone wanted an EIN, that person would have to fill out a form ss-4 and mail or fax it in to the IRS and the IRS would mail back the number or, if the number was needed sooner, one could call the IRS and get the number over the phone.  The most common and fast way to get an EIN these days is to apply online

With an EIN, the entity can complete a number of tasks.  Among these are opening a bank account, selling estate real estate, or filing income or estate taxes.  Without an EIN, these procedures are made more complex or even impossible.

An attorney or other third party designee can obtain an EIN on behalf of the entity represented by the attorney.  All that is required is a completed form SS-4 and a separate third party designation authorization.  When we represent clients who will need to have an EIN assigned, we typically ask them to execute these documents near the beginning of an engagement so that we are prepared to easily obtain the number near the beginning of our engagement.

When the IRS online system is working, an EIN can be obtained in less than an hour.  Once the number is issued, the IRS will follow up with the entity with written correspondence meant to inform the taxpayer entity of many of its obligations.

If you or your entity are in need of an EIN or other representation, please feel free to give us a call to see if we are a match for an engagement.

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Reda | Ciprian | Magnone, LLC
8501 W. Higgins Suite 440
Chicago, Illinois 60631

Call: (773) 399-1122
Fax: (773) 399-1144

who we are

Firm Overview

Reda | Ciprian | Magnone, LLC serves the public and other Illinois attorneys by providing timely, accessible information about Illinois law, specifically, estate planning, probate, entity formation, corporate, landlord-tenant, real estate & other areas of the law. Our firm has assisted clients as far away as France and India in their Illinois legal matters.

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Areas of Practice

Probate Law Landlord Tenant Law Corporate Law Real Property Law Estate Planning