Do you need a new EIN?

When starting a business or making certain changes in your business entity, you may need an Employer Identification Number (EIN) to use on federal tax returns instead of your personal Social Security number (SSN). Form SS-4 has a chart explaining when an EIN, or new EIN, is required. For example, a sole proprietorship or self-employed farmer who establishes a qualified retirement plan, or is required to file excise, employment, alcohol, tobacco, or firearms returns, must have an EIN. But an existing corporation that is electing or revoking S corporation status should use its previously assigned EIN. A draft of Form SS-4 with a December 2025 revision date has been posted to replace the current version (Rev. December 2023). An EIN can also be obtained by domestic businesses by using an IRS tool for this purpose. #IdeaoftheDay