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  #1  
Old 10-22-2018
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Default 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)
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  #2  
Old 10-22-2018
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Default 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.
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Old 10-22-2018
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Default Re: EIN quick question.

Quote:
Originally Posted by phaz0rz View Post
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.

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?
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Old 10-23-2018
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Default 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.
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Old 10-23-2018
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Default Re: EIN quick question.

Quote:
Originally Posted by phaz0rz View Post
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.

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

Which one would I put the EIN number into paypal?
SS or ITIN?
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  #6  
Old 10-23-2018
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Default 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.
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Old 10-23-2018
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Default 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....
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Old 10-23-2018
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Default Re: EIN quick question.

use EIN last four in place of SSN.
make sure to upgrade.
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Old 10-23-2018
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Default Re: EIN quick question.

Quote:
Originally Posted by BigCJ View Post
use EIN last four in place of SSN.
make sure to upgrade.
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?
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  #10  
Old 10-23-2018
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Default 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.
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  #11  
Old 10-23-2018
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Default 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?

Last edited by outofluck; 10-23-2018 at 09:53 AM.
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  #12  
Old 10-23-2018
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Default 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.
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  #13  
Old 10-23-2018
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Default Re: EIN quick question.

Quote:
Originally Posted by phaz0rz View Post
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.
Business name on EIN + business name on PayPal
Am I getting that right?
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  #14  
Old 10-23-2018
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Default 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.
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  #15  
Old 10-23-2018
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Default Re: EIN quick question.

Quote:
Originally Posted by phaz0rz View Post
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.
Thank you for the tip.

Ps. Can the Business name of EIN, (be your stealth eBay name)?
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  #16  
Old 10-25-2018
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Default Re: EIN quick question.

Quote:
Originally Posted by outofluck View Post
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?
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 #)?
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  #17  
Old 12-03-2018
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Default 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.
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Old 12-04-2018
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Default Re: EIN quick question.

Quote:
Originally Posted by tomf500 View Post
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.
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?
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  #19  
Old 12-07-2018
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Default 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.
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  #20  
Old 12-07-2018
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Default 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?

Last edited by WasTopRatedThenBanned; 12-07-2018 at 05:11 AM.
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  #21  
Old 12-07-2018
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Default Re: EIN quick question.

Incfile is good and a little cheaper than legalzoom.
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  #22  
Old 12-08-2018
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Default Re: EIN quick question.

Quote:
Originally Posted by WasTopRatedThenBanned View Post
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?
You can do it yourself. EIN is free, LLC is about $100 in most states.
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