What is EIN Letter?
What is an example of an EIN verification letter?
How do you get a new one?
Keep reading as I have gathered exactly the information that you need!
Let me explain to you what is an EIN letter from IRS and why it’s important!
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Table of Contents
What Is An EIN Letter
An EIN letter can either refer to the Form CP 575 which is a letter sent by the IRS shortly after having assigned an EIN number to your or your business or it can refer to an EIN Verification Letter which is a letter sent by the IRS when Form CP 575 is misplaced.
Companies and some individuals get an EIN number (Employment Identification Number) representing a nine-digit number assigned to them by the IRS.
The EIN number is used to identify your company or sole proprietorship with the tax authorities, government agencies, banks, and other stakeholders.
The EIN letter (whether we are referring to CP 575 or the EIN Verification Letter) is a document that officially confirms your company’s EIN number.
At some point in time in your business, you may need to present this official EIN letter to banks, financial institutions, investors, suppliers, vendors, or others.
How EIN Letters Work
Now that we know what is an EIN letter, let’s see how it works.
Original EIN Letter
When you first apply for an Employer Identification Number, the IRS will send you an official confirmation of the EIN letter assigned to your company in a document called CP 575.
The CP 575 document is sent to you within 8 to 10 weeks following the approval of your EIN application.
It’s crucial to keep the CP 575 document in a safe place as the IRS will only mail this to you once.
If you lose or misplace your CP 575, you will need to ask for a replacement EIN letter but this letter will no longer be a CP 575 but an EIN Verification Letter.
Replacement EIN Letter
No matter how careful we are, it’s possible that we lose paperwork from time to time.
The same is true for your EIN letter.
If you happen to lose your original EIN letter, you’ll need to ask the IRS for a replacement copy.
However, the IRS will not replace your original EIN letter by issuing once more the same CP 575 Form.
Instead, the IRS will issue an EIN Verification Letter in the form of a 147C Letter.
This letter is essentially the official substitute of the CP 575 form allowing you to officially confirm your company’s EIN letter should banks and lenders ask.
Why Is An EIN Letter Important
An EIN letter is an important document that is issued to your company by the IRS.
When the IRS assigns a tax identification number to your company (an EIN), it will officially confirm that assignment by sending a letter (an EIN letter).
The confirmation of your company’s EIN in a letter is like getting the confirmation of Social Security Number for individuals.
In the same way that an SSN is a crucial number for individuals, EIN is a crucial number for companies.
When you get your IRS EIN letter, it’s important that you keep this document in a safe place as you may be asked to show the original of this document in the normal course of business.
For example, financial institutions may ask you for your original Employer Identification Letter, lenders may ask for it, you may need it to open a business bank account, get a business license or permit, and many other things.
If you are asked for an original EIN confirmation letter and you do not have one, you will need to go through the process of contacting the IRS to get a replacement copy sent to you.
So be sure to always have your original Employer Identification Number confirmation letter handy.
How To Get EIN Letter From IRS
You are asking: how do I get a copy of my EIN letter from the IRS?
To get your original EIN letter, you’ll need to apply for an Employer Identification Number.
You do that by completing the SS-4 Form called Application for Employer Identification Number.
Once the IRS approves your EIN application, you will get your EIN Letter (CP 575) in the mail.
If you have lost your CP 575 and need to get a copy of the EIN letter, the best way is to call the IRS.
Here is how to get EIN letter from IRS:
- Call the IRS customer service line at 1-800-829-4933
- When the IRS answers, identify your business and answer any IRS questions to locate your company file
- Request EIN letter
- If your contact information has not changed, the IRS will send a replacement EIN letter to your company’s address on file
If your company’s address has changed or contact information needs to be updated, you must submit Form 8822 to the IRS before getting an IRS EIN letter replacement.
EIN Letter Sample
What does the IRS EIN letter look like?
If you are wondering what an EIN letter looks like, here is a sample copy of the original EIN letter sent to you by the IRS.
As you can see from this letter, the IRS indicates that they have assigned an Employer Identification Number to the company or business.
The EIN number will be used to identify the business, business accounts, tax returns, and documents.
The IRS invites you to permanently keep your EIN letter.
IRS EIN Letter Takeaways
So there you have it folks!
What does an EIN letter mean?
How to get EIN letter from IRS if you lost or misplaced your EIN?
In essence, an EIN letter is the official confirmation of your company’s tax ID number (essentially the Employer Identification Number).
The first official letter confirming your company’s EIN is in the 575 Form.
However, if you lose or misplace your first official EIN letter, you can ask the IRS for a copy.
The IRS will then send you another EIN confirmation letter this time called the 147C letter (as the 575 Form is only issued once).
You may need your EIN letter in some cases to open a bank account, apply for licenses or business permits, get loans, or for other reasons.
Make sure that you keep your EIN letter in a safe place so you don’t lose it.
If you do lose your original letter, don’t worry, you can contact the IRS to get copy of EIN letter.
Now that you know what is an EIN letter, why it’s important, and how to get a copy of EIN letter, good luck with your business!
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Understanding EIN Letter
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