Bank Accounts & EIN
by Jimmie Wikins, SBDC Director

Q. My bank tells me I need a business tax number to open a business checking account. What is it and where do I get one?

A. All businesses, including sole proprietorships that pay wages or file any pension or excise tax returns, are required to obtain a federal tax identification number, aka the employer identification number (EIN). You'll need to complete an SS-4 form, available from the IRS (800-829-3676) or the Business Information Center (986-2222). Mail your completed application to: IRS; Mail Stop 6271; POB 9941; Ogden, UT 84201 (no cost and about 4 weeks delivery) Or fax your application, including your return fax number to: (801) 620-7115. (Still no cost and about five days delivery). This should satisfy your bank's requirements.