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Setting up EIN/LLC for PayPal
 

Hey Guys,

I've searched the forum and found some information, but a lot may possibly be outdated, so I wanted to pose the question here.

I'm getting tired of the tax limit, and setting up new PP accounts is becoming more and more of a pain in the rear every month, so I'm looking into getting and providing an EIN.

Is it still possible to upgrade to business and provide an EIN for a stealth account? Will they immediately ask for my SSN, as well? How do you deal with this?

Thanks!

Re: Setting up EIN/LLC for PayPal
 

Yes it's possible to upgrade to a business and add ein info.

They don't ask for your full ssn but they ask for the last four, you can get creative and decide what to do here.

Just make sure your LLC is organized and formed a month or two ahead before uploading it on PP, they will confirm your taxpayer status by either ein/itin/ssn.

Also from what I've seen recently, after upgrading from personal to business, there's a notification in PayPal that requires you to provide documentation to confirm your business (confirm business name/ein, and business address I believe). So far this hasn't had any impact on the PayPal account but I've seen if your taxpayer info doesn't match then pp will temporarily restrict your account. It's no big deal to be honest because you can conduct business as usual but it is a temporary restriction.

You'll see the confirm your taxpayer status screen when you go into settings> account owner information or something like that.

Re: Setting up EIN/LLC for PayPal
 

Thanks for your help, NYC.

So it will accept my real last 4 ssn with my stealth name? Or should I just be creative?

Re: Setting up EIN/LLC for PayPal
 

You're welcome.

Just use the last 4 of your EIN. That's what I've been doing for a few years now and I haven't faced any show stopping issues.

Re: Setting up EIN/LLC for PayPal
 

yes EINS work at the moment best way to go instead of keep switching accounts good luck