EIN ... and pay pal

countrygal2270 · #1 09-04-2013

I have a businesses account.. and got hit with a verification with SSN.... I have a new EIN number... when can I use it to verify my PP account with it I heard It can take 2 weeks before it is in the system thanks

jeffweico · #2 09-04-2013

If PayPal has specifically requested your SSN for verification, then giving them the EIN won't work. If this was just them asking for the number for tax reporting, then it will be OK. I would wait 5 days or so if this is the case to give the EIN time to show up in IRS records.

countrygal2270 · #3 09-04-2013

I have a premier account so I can use my EIN number.

countrygal2270 · #4 09-04-2013

I have 3 stealth accounts,, one I have had for about 2 years... just this jan I started selling online tack on facebook making about 600 a month.. in the last month jumped to 1200-1500 in sales just got hit with with SSN verification.

I have my EIN for years since 2008 but heck cant remember the address or my old business name its under . Called the IRS never can reach them.. sat on hold for 3 hours... nothing..

so I made a new one with with new information that would match my pay pal account but it takes around 2 weeks for the information to hit the IRS data banks to pass a TIN.

does anyone know for sure how long I have before PAYPAL will shut me down till I provide them with the EIN number or can I just use this new number now?? thanks in advance

GreenBean · #5 09-04-2013

Quote:

Originally Posted by countrygal2270

I have a businesses account.. and got hit with a verification with SSN.... I have a new EIN number... when can I use it to verify my PP account with it I heard It can take 2 weeks before it is in the system thanks

Was the request for SSN or for tax ID?

You have to pay attention to the actual info they want.

If it was for tax ID, then your EIN should be OK.

Futuremogul888 · #6 09-04-2013

Quote:

Originally Posted by countrygal2270

I have a premier account so I can use my EIN number.

Premier accounts are no good for EINs. It has to be a business account. If you have a premier account they are probably asking you for SS # and only your SS # will work.

jeffweico · #7 09-04-2013

Just as an FYI... My previous post was based on PayPal asking for an SSN specifically. Sometimes, if they are not sure that you are who you say you are, they will want an SSN even on a business account. If that is the case, they won't accept an EIN.

Again, if this was just triggered by the tax reporting requirements, an EIN should be OK. You can even upgrade to a business account when this happens (I have done that a few times). Normally, I make all of my new accounts business accounts. But when I started out, I didn't.

123 · #8 09-04-2013

Yeah if there asking for SSN specifically will be very hard to get them to accept EIN as an alternative you would have to pull some strings over thet phone and get lucky. I've had them ask for SSN even on business accounts with EIN on them, and they didn't want to budge.

GreenBean · #9 09-04-2013

Quote:

Originally Posted by countrygal2270

I have a premier account so I can use my EIN number.

Just to confirm you need to watch exactly what paypal have requested you to provide.

EIN will not work with premier accounts.

Make sure exactly what request has been made.

It may change your manner of dealing with the issue.

Dmshark25 · #10 09-05-2013

They will tell you what they require, you will get sent a email saying that you need to put a tax ID because of the new IRS rule and when u log in it asks if u want to provide a social or EIN and if u have a premier account yes your able to upgrade to a business account I have done this.

And after you get the EIN the IRS site does say u can use it right away for opening a bank account but it could take up to 2 weeks for it to register with the IRS for a match.

That being said I created an EIN than added it 24 hours after and it lifted all limitations and this was about 2 weeks ago.

So it is recommended to wait 2 weeks but so far so good

countrygal2270 · #11 09-05-2013

I have a premier account... I finally got a hold of the IRS..and change my address and have my business name to match my pay pal information I have had my EIN for about 5 years now... but also made a new one up as a back up I haft to up grade to a business to use the EIN which is no big deal the IRS lady I talk to about pay pal... says they give them NO INFORMATION.... other then street location and state and zip code she said that is a big thing... is the zip code..must at least match... and the business name...is the second... they give them no information whos name it is in... or NAMES... or SSN,,,,it could be more then one person or a group that can have a EIN

countrygal2270 · #12 09-05-2013

will see how this plays out...

JJGold · #13 09-05-2013

^^^^^^^^^^

@OP

The IRS does not give PayPal your address, they don't give anyone anything. There is a verification system that company's use to insure the SSN/EIN belongs to the account holder. I can assure you, address is not a condition. Google "IRS name control" and you'll see what needs to match depending on what business structure was used in applying for an EIN.

Also, in a previous post you said it takes 2 weeks for the EIN is in the system for use with PayPal. I've submitted 7 EIN's in the last 4 months and they all have been done minutes after getting off the phone with the IRS.

countrygal2270 · #14 09-05-2013

it states EINs take 2 weeks to get in the IRS systems for verification,,my question was is ok to use ... the new EIN... since the information was new and take 2 weeks to be in the data banks of the IRS.., I have 2 EINs one I have had since 2008 and the new one I made a the other day... they can release BUSINESS address information.. but not SSN or personal name... only business..

slapped · #15 09-05-2013

Quote:

Originally Posted by countrygal2270

I have a businesses account.. and got hit with a verification with SSN.... I have a new EIN number... when can I use it to verify my PP account with it I heard It can take 2 weeks before it is in the system thanks

You still have NOT clarified EXACTLY what Paypal asked, does Paypal want your SSN to VERIFY your idenity, if so ALL of this talk about ant EIN is FUTILE,,

On the other hand, if Paypal asking you for a SSN or EIN for TAX REPORTING pourposes then you CAN get away with giving them your EIN, even if you only have a premier account with them, in that case all you would need to do is upgrade your Paypal account from a Premier account to a Business account, provide your EIN and thats it,,Done