Forum

Updating PayPal With a LLC Business Account
 

Paypal limited my stealth account because they want me to enter my tax info, I am in the process of creating an LLC I'm just waiting for the approval from my state, my question is I been looking into it yesterday and PayPal is not only going to want my EIN number but my SSN number also? My paypal accounts are permanently limited with my SSN is that going to effect my stealth account when I update it to a business account?

Re: Updating PayPal With a LLC Business Account
 

This is a tough question to answer. My 3 business accounts only have an EIN but they may have been grandfathered in since Paypal seems to be requiring SSN from everyone who tries to upgrade now. You used to just enter the EIN for the EIN + SSN fields. I'm really not sure if it works that way anymore.

For what it's worth you can get your EIN from the IRS, then form an LLC with your state months later.

Re: Updating PayPal With a LLC Business Account
 

I would try it first with the EIN number without filing with the state. That way, if it does not work, you dont waste money.

Re: Updating PayPal With a LLC Business Account
 

All that is to late I already paid already being processed

Re: Updating PayPal With a LLC Business Account
 

I'm getting some feedback saying the the SSN number would just be the last 4 digits and date of birth, if that is the case I'm wondering if it is only to verify the business and not my identity, can anyone confirm this?

Re: Updating PayPal With a LLC Business Account
 

what good is the last 4 digits of SSN?
The only time it is used is when you have registered with your SSN with a bank or cc issuer and the customer service staff does not see it,all he sees is that last 4 digits

Re: Updating PayPal With a LLC Business Account
 

Did you read the initial thread? Im need to put in a tax ID into PayPal with a EIN but I do believe they want my EIN and my SSN I'm trying to figure out if it's going to link my limited paypals which I do not want to happen, I am trying to figure out why PayPal would want both my EIN and my SSN I'm hoping it's just to verify my business with the IRS and not for my identity to link my accounts which I DO NOT WHAT TO HAPPEN!!!

Re: Updating PayPal With a LLC Business Account
 

how is the last 4 digits of your SSN used to verify your business?
Unless it is the same as EIN?

Re: Updating PayPal With a LLC Business Account
 

I am sorry your life is so complex,have you ever heard of KISS policy,?

Re: Updating PayPal With a LLC Business Account
 

If I own a LLC and it has a EIN number my SSN is on my LLC for the IRS the last 4 digits on my SSN can be used to verify the company is mine if the last 4 digits of my SSN is the same as the last 4 digits on the LLC to verify with the IRS

I don't know tho, I actually have no idea I'm just wondering, I also have no idea why paypal wants my EIN and my SSN would you know why?

Re: Updating PayPal With a LLC Business Account
 

Well yeah I wish things were simple, everything was working simple until paypal limited my account because of Tax ID, now I have to jump through hoops

Re: Updating PayPal With a LLC Business Account
 

Anyways my life isn't so complex, paypal is just a small thing but I'm trying to work out the hiccups, I think that's why we are all here right? Because we are all trying to work around Suspensions

Re: Updating PayPal With a LLC Business Account
 

It has been this way for many many years. Just use EIN number for both. It has been discussed here thousands of times over many years. Just search the forum and ready for a few hours if you have doubts.

The new thing is all the doc requests. We have been 100% successful ignoring them for more than a year. Other people we know are the same way. One or two people on this forum report different results. I personally think they have other issues altogether.

Re: Updating PayPal With a LLC Business Account
 

Thank you Yankee I appreciate that!!!

Re: Updating PayPal With a LLC Business Account
 

Is a business PayPal account less likely to get limited than a personal account?

Re: Updating PayPal With a LLC Business Account
 

Nope, still depends on your account/selling activity.

Re: Updating PayPal With a LLC Business Account
 

Re: Updating PayPal With a LLC Business Account
 

A lot depends on your activity and products being sold as well - the "status" won't protect from limitations solely

Re: Updating PayPal With a LLC Business Account
 

PP seems to be requiring business info and credit card automatically now.

Thus Im likelu to get killed with my real info on the EIN statement as I have been deep sixed by PP hence Stealth.

Suggestions?

Re: Updating PayPal With a LLC Business Account
 

if you browse this forum,some single owner LLC has been asked for his SSN,and for multiple owners ,it asks for SSN of at least one 25% owner .
Credit card can confirm your address and allow Paypal to charge $$ under certain circumstances !!

Re: Updating PayPal With a LLC Business Account
 

Paypal used to have personal vs premier account,then there is only personal and business account,both can accept credit card payments.
There is really no difference,but Paypal insists sellers to open a business account ,the rationale is that you sell enough,it is a business,so some folks just make up a name,never bother to register with the state or city.

Re: Updating PayPal With a LLC Business Account
 

Please be ware of this user WEI. He is a scam. Has Taken money from me for PayPal account and doesn't respond.