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Old 09-15-2019
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Default EIN LLC suggestions for paypal

I am not from US and have been selling on ebay for a few months now. I have a verified paypal account with my real bank account.
I received a message from paypal like this:

Because you receive payment for goods or services through PayPal, we need to confirm your taxpayer status. This verification is required to comply with US. Internal Revenue Service (IRS) as well as State tax reporting requirements.

If your taxpayer status isn't confirmed, your PayPal account will be limited, and you won’t be able to request or receive money.

If you’re subject to U.S. tax reporting requirements, we’ll also need to collect your tax identification number and also ensure that your business type is correct within your Profile (Business Information section) to prevent reporting issues in the future.

The taxpayer identification number you provide will be used to submit Form 1099-K to the IRS and the state associated with your PayPal account's primary address when the payments you receive in a calendar year meet the income reporting thresholds set by the IRS or the applicable state. You can learn more about your state and IRS reporting requirements at.

If you have multiple PayPal accounts, you’ll need to verify your taxpayer status for each account.

If you have already provided your tax identification number, it’s possible that you are receiving this message because the combination of your Name/TIN didn’t match IRS records.

So I am obviously not going to give them a ⊗⊗⊗⊗ SSN. So is setting up an LLC and get an EIN from IRS the legit way to go? I have never been suspended on ebay so I am not considering stealth for now.

If anyone have successfully got an LLC and EIN, I would really need some suggestions of good companies that help me do it.

Also, I have only $5000 in sale, how much time do I have left till I am no longer to accept money on my paypal? Also heard the paypal will still ask for your SSN even if you put in the EIN?

Any recent sellers experience could help me out? Thank you!!!!!!!!!
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Old 09-15-2019
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Default Re: EIN LLC suggestions for paypal

Up! If someone could recommend a LLC setup service, that would really help! I don't want to apply for ITIN lol
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Old 09-16-2019
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Default Re: EIN LLC suggestions for paypal

A lot of people like Delaware but I prefer Wyoming, no state income tax, small population and the goverment fees are around $50 per year

I used these guys never had any problem with them: https://www.wyregisteredagent.net/wyoming-llc/ein
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Old 09-16-2019
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Default Re: EIN LLC suggestions for paypal

Welcome to the forum - all the best as you master stealth

Lot of posts around the forum about this - also if not in the US, where are you from? Flag on the forum should match your location
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Old 09-16-2019
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Default Re: EIN LLC suggestions for paypal

if you are not in US,you should change your flag (ASPKIN) to your own country so we can help you better.
When you get closer to 200 transactions AND $20K,Paypal would ask for your SSN ,some said it can ask anytime,irregardless of how much you have sold.
If your LLC has just one person,Paypal could ask for your SSN.
You said you have a real bank account connected to your US Paypal account,it would have to be a US bank,how did you open a US bank account without SSN?
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Default Re: EIN LLC suggestions for paypal

Lot of banks open bank account for foreigners with enough deposit
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Default Re: EIN LLC suggestions for paypal

In that case, would SSN replaced by ITIN?
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Old 09-17-2019
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Default Re: EIN LLC suggestions for paypal

Quote:
Originally Posted by gameplaybooster View Post
Lot of banks open bank account for foreigners with enough deposit
can you give me names of some banks?
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Old 09-18-2019
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Default Re: EIN LLC suggestions for paypal

Lot of questions gameplaybooster
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Old 09-19-2019
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Default Re: EIN LLC suggestions for paypal

I used these guys and they literally finished by the end of the day: https://www.samedaycorp.com/
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