SSN EIN Request

[LesMiles]

Okay, sorry I am asking a question that probably has asked a billion times. I have been reading everything I can on these forums the past couple of days and online. But just need to make sure I am going to do this right.

Got my first EIN SSN request from paypal couple of days ago. To my understanding all I need to do is upgrade to a business account. Then apply for EIN on site like legalzoom. Apply for the EIN with my real info but use my stealth name as the the corporation name? Then wait 2 weeks to put into payapl. Is that it?

[solefoodbk]

Your coronation can be any name it's a coronation so it really doesn't matter. We really don't even know if they cross check the EIN with the IRS, our assumption is they do but its PayPal...

The reason why opening a llc or scorp is good is because it can't link back to you. If you think of any big corp during the 08 recession then you would know the people themselves never were accountable for the BUSINESS.

[LesMiles]

So I can make a corporation under the my real name and home address? Then name my corporation under ACME Treasures and submit that and the EIN I get from legalzoom? Am I golden after that?

[stealthninja]

What about your address? Does Paypal check the EIN address?

[Harvin]

Originally Posted by LesMiles

Okay, sorry I am asking a question that probably has asked a billion times. I have been reading everything I can on these forums the past couple of days and online. But just need to make sure I am going to do this right.

Got my first EIN SSN request from paypal couple of days ago. To my understanding all I need to do is upgrade to a business account. Then apply for EIN on site like legalzoom. Apply for the EIN with my real info but use my stealth name as the the corporation name? Then wait 2 weeks to put into payapl. Is that it?

Did you just apply online for ein or you talked to an accountant about advice?

[LesMiles]

I have not done anything yet. I am just hoping someone can confirm what I am about to do is correct. So I have been reading more about this. So if I make a corporation then paypal will not see my real address and all they will see is the name of my business with a P.O. BOX and EIN? So it works like the bank account? Thanks in advance!

[pre111]

Here is the problem you are going to have. If you got the SSN / EIN request from paypal it is already to late to create a business account. At this point your account is already limited. And Paypal will not allow you to open a business account at this time. The only thing paypal will accept from you is an SSN. Once you put in an SSN number your account is then in good standing and only then will you be allowed to open a business account.

I know this because i just went through this. But i was able to find a work around and my account is now fine. And i was able to create a business account.

[Lolitax]

We got the request. It wasn't limited immediately. We waited sometime and got a second second reminder. Looked into what to do and then the account was limited. Provided the requested info and they unlimited the account.

[Maliquest]

Why are you going to pay 100 dollars to LEGALZOOM? YOu can do that on your own. Do some research

[willam2glaze]

Originally Posted by pre111

Here is the problem you are going to have. If you got the SSN / EIN request from paypal it is already to late to create a business account. At this point your account is already limited. And Paypal will not allow you to open a business account at this time. The only thing paypal will accept from you is an SSN. Once you put in an SSN number your account is then in good standing and only then will you be allowed to open a business account.

I know this because i just went through this. But i was able to find a work around and my account is now fine. And i was able to create a business account.

Hi should I put my real SSN? It's a stealth account and the name isn't match. Thank you.

[solefoodbk]

Originally Posted by willam2glaze

Hi should I put my real SSN? It's a stealth account and the name isn't match. Thank you.

No.

Your social is YOUR social. No one else has YOUR social. Read between the lines..

Any social used under another name is identity theft.

[GreenBean]

Originally Posted by solefoodbk

Your coronation can be any name it's a coronation so it really doesn't matter. We really don't even know if they cross check the EIN with the IRS, our assumption is they do but its PayPal...

The reason why opening a llc or scorp is good is because it can't link back to you. If you think of any big corp during the 08 recession then you would know the people themselves never were accountable for the BUSINESS.

What is a coronation?

[wtfebay]

Coronation Elsa?

[Omgoozle]

Just leave the account alone for another 6 weeks and it will auto unlock with the new year some time in January.

[LoopHole]

Originally Posted by Omgoozle

Just leave the account alone for another 6 weeks and it will auto unlock with the new year some time in January.

They don't pull the trigger and limit the account if not provided within a certain time line?

[Omgoozle]

Originally Posted by LoopHole

They don't pull the trigger and limit the account if not provided within a certain time line?

Not in my experience. Last week I "lifted the limits" on a PP account that was Tax Limited since 2014 just by logging in for the first time this year. That's been the M.O. since January of this year.

But every year may be different.

[wtfebay]

Originally Posted by Omgoozle

Not in my experience. Last week I "lifted the limits" on a PP account that was Tax Limited since 2014 just by logging in for the first time this year. That's been the M.O. since January of this year.

But every year may be different.

So you are saying the SSN REQUEST goes away at the beginning of the new year? We know the 200/20k threshold resets but what about the tax info request

[solefoodbk]

Originally Posted by wtfebay

So you are saying the SSN REQUEST goes away at the beginning of the new year? We know the 200/20k threshold resets but what about the tax info request

If you have just a SSN REQUEST then no it won't.

The 200/2000 can be overcome a couple ways and SSN is one of them. The normal 200/200 projection or if you hit the actual limit then at the end of the year it shouldreset.

If it doesn't just phone in and ask if they can manually. The limit is initiated for no other reason than either a projection or if you hit the IRS limit. So there is 0 reason for you to be limited still for last year says. Should be a easy fix either way!

[wtfebay]

Originally Posted by solefoodbk

If you have just a SSN REQUEST then no it won't.

The 200/2000 can be overcome a couple ways and SSN is one of them. The normal 200/200 projection or if you hit the actual limit then at the end of the year it shouldreset.

If it doesn't just phone in and ask if they can manually. The limit is initiated for no other reason than either a projection or if you hit the IRS limit. So there is 0 reason for you to be limited still for last year says. Should be a easy fix either way!

I ended up calling in because I couldn't upgrade to business...kept telling me I was limited and to call in for help. Even though I had absolutely no restrictions...I could still withdraw, send and receive. Called in and they downgraded me to personal (from premier) and then I had to go in to the account and upgrade to business. Never had that happen before. But now of course the tax request is gone and everything is good.

[solefoodbk]

Originally Posted by wtfebay

I could still withdraw, send and receive. Called in and they downgraded me to personal (from premier) and then I had to go in to the account and upgrade to business.

That's why.

I did that once when I was testing how everything works. I went to upgrade and I think it brought me to a screen where you add the EIN and I quickly tried to close the screen....

Well even though I didn't complete the process they upgraded me from personal to premier, like you I had to call in too. Easy fix