Forum

EIN quick question.
 

I had my "real" ebay account lost a few years ago, due to DRL or what ever those 5 star things were, due to slow shipping...

Any who,
I had my REAL ebay account up and running.
It had real address, real name and real EIN attached.
No limits!


I still have the original EIN.
My question is:
Can I make a DBA (doing business as) EIN from the original EIN number?

( I need to attach EIN to stealth account)

Re: EIN quick question.
 

You can, but you wouldn't be able to use the online application. You would have to mail in your application or use a service like Legalzoom. Reason being is the online application will not allow an existing EIN to be the responsible party for a new EIN (online application only allows a SSN to be the responsible party). It's easily doable - just not on the IRS website.

So your options are to either a) fill out a paper application, b) use legalzoom, or what I would do, c) just make a new LLC EIN under your SSN on the online application.

Re: EIN quick question.
 

Phazorz,
so you are basically suggesting to:
make NEW LLC EIN on my state's tax id website?

Question:
which part of the opening a new LLC, would I use my stealth info?

Re: EIN quick question.
 

You would get the EIN on IRS.gov, then register your LLC on your states secretary of state website. You would not use stealth info at any point, other than on Paypal.

Re: EIN quick question.
 

I have option of putting SS # or ITIN # in paypal.

Which one would I put the EIN number into paypal?
SS or ITIN?

Re: EIN quick question.
 

I haven't upgraded an account since they rolled out the new PP interface, honestly. But plenty of people have upgraded since then.

Standard procedure used to be to put your EIN in the EIN and the SSN field on PP. So I assume you would now just put your EIN as the SSN.

When it asks for your DOB, I always put the date the LLC was formed + 20 years.

Re: EIN quick question.
 

Does anyone know where to insert EIN for paypal?

I have options on paypal of SS or ITIN.
But I have NOT upgraded to business paypal yet....

Re: EIN quick question.
 

use EIN last four in place of SSN.
make sure to upgrade.

Re: EIN quick question.
 

BIG CJ,
thank you!!!

So basically, put last four digits of EIN into SS drop down box on paypal.

IS this BEFORE or AFTER, I would upgrade to business paypal account?

Re: EIN quick question.
 

If I'm not mistaken it would be during the upgrade process. Click upgrade and see what it shows you.

Note : when you do upgrade, make sure you give Paypal the right business type or you'll run into problems later. If you got a LLC EIN make sure you tell them you're an LLC.

Re: EIN quick question.
 

Does PayPal ask for real name, when upgrading to business account or inserting EIN?

Better yet: what names have to match when making EIN?

Re: EIN quick question.
 

EIN + business name are the only things that need to match on Paypal and your IRS paperwork.

Your LLC is it's own entity, so the name on your PP account isn't important.

Re: EIN quick question.
 

Business name on EIN + business name on PayPal
Am I getting that right?

Re: EIN quick question.
 

Correct. When you upgrade just make sure you give PP your exact EIN, and your exact business name as seen on your EIN paperwork.

If either one is off by 1 letter or number it will come back as an invalid tax ID at tax time.

Re: EIN quick question.
 

Thank you for the tip.

Ps. Can the Business name of EIN, (be your stealth eBay name)?

Re: EIN quick question.
 

Big cj,
The new PayPal system has options of SS or ITIN.

So did anyone upgrade to business PayPal (with the new system).
Would I use SS drop box, and simply type in my fresh EIN? (full EIN #)?

Re: EIN quick question.
 

Hey outofluck, was this method successful for you. Did you have any issues or did PayPal request any more personal info since upgrading? I am looking to upgrade my account as well and am looking for more info on the subject.

Re: EIN quick question.
 

Hey Tom,
I have not tried it yet...

I’m still wondering what “type” of EIN to open.

Anyone else have luck on a similar situation?

Re: EIN quick question.
 

Don't start any EIN until you need it. Why you want to get IRS involved over stupid ebay. Just buy the stealth guide and follow their instructions. EIN only necessary if you do $20K+/200 transactions. They will catch you before that.

Re: EIN quick question.
 

Really good info on this thread. I purchased a LLC with a EIN on legalzoom before, it is kinda pricey. Anyone know of a cheaper alternative?

Re: EIN quick question.
 

Incfile is good and a little cheaper than legalzoom.

Re: EIN quick question.
 

You can do it yourself. EIN is free, LLC is about $100 in most states.