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  #1  
Old 10-27-2014
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Default Making permanent biz account

I'm going to be making a permanent business account (just Paypal, Ebay not needed) and I could use a couple pointers.

I have the stealth thing down, that's not the issue. The issue is...

I can't use my mailing address so I'm going to go with the UPS Store, Mail Boxes Etc., etc, address route. Aware I can't use a PO Box.

I can't use my SSN for a verification, or any other reason, so I will need an EIN, correct? Any tips on that would be appreciated.
In particular my concern is the EIN somehow tying back to my SSN upon Paypal scrutiny, as that would make this whole thing pointless.

Thanks all for the help!
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  #2  
Old 10-27-2014
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Default Re: Making permanent biz account

LLC or Corp. Call your accountant. Pretty simple stuff that is solely based on your income, intentions, employees, etc...that only you and your advisers know.
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Old 10-27-2014
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Default Re: Making permanent biz account

It's an LLC, it's only me, and I don't have an accountant.

This is an EIN for Paypal purposes.
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Old 10-27-2014
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Default Re: Making permanent biz account

Not sure what else or how else to answer.

You need a LLC or Corp. End of story.
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Old 10-27-2014
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Default Re: Making permanent biz account

Let me rephrase my OP.

I need an EIN so when Paypal says "Your name on your account matches this old account that we closed" I have something to give them that isn't a SSN.

Saw a post here the other day basically saying that an EIN info can include your SSN, so what's the point of an EIN?
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Old 10-27-2014
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Default Re: Making permanent biz account

EIN for an LLC or Corp DOES NOT LINK TO YOU. It is its own entity. Who ownes Microsoft, ebay, Barnes and Noble, Exxon, Sears, Hess, BP, McDonalds, etc.....? The sharholders of the Corp and the members of an LLC. NOT a SS number.

Your confusion is Sole Proprietor. That is an Individual doing buisness and you as an individual can get an EIN(Employer Identification Number) but it is YOU and it does link to an SS directly if investigated.

So short answer is LLC or Corp. Many options with both. many kinds and structures. Many states to choose from, etc... Every situation is different and mostly revolves around taxes, how you get taxed, your tax rate, etc... hence only your advisers can help with your LLC or Corp structure.

But for paypal to not link to your SS, new address, new Company, phone number, etc... all the basic stealth stuff with your new company EIN.
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  #7  
Old 10-27-2014
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Default Re: Making permanent biz account

Also, open the paypal as a personal account using stealth info and only add the EIN when demanded. If you open right away as business they want both the EIN and SS of user. Go about the other way and no SS is required and depending on sales and how you operate they may never ask for EIN.
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Old 01-06-2017
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Default Re: Making permanent biz account

Quote:
Originally Posted by yankee View Post
Also, open the paypal as a personal account using stealth info and only add the EIN when demanded. If you open right away as business they want both the EIN and SS of user. Go about the other way and no SS is required and depending on sales and how you operate they may never ask for EIN.
Sorry for the long bump, I'm finally going to go about doing this legit long-term business account and I am wondering if anyone has any suggestions to add.

Yankee suggested I open a personal account using stealth info, then give an EIN after the fact if Paypal asks for it. Does this sound like the way to go?

So I would not be registering an EIN unless Paypal limits my personal account, then I tell them it is actually my business account - and give them an EIN - when they ask me to verify my identity to come off of a limitation?

I'm pretty confused (clearly). Thanks as always for the help here.

TL;DR: I want to make a long-term business account, that hopefully will be successful and receive a lot of $. I can't use my real SS# to verify my identity if my account is limited. I've used my SS# on an old PP account that was limited.

Last edited by blockhead; 01-06-2017 at 05:08 PM.
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Old 01-07-2017
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Default Re: Making permanent biz account

Open with stealth, operate normally. If the account is going great, no issues, etc...when paypal asks the FIRST time for the tax info, then add your EIN and use the last four of the EIN for the SS.

It is that easy.

The problem with adding an EIN right away is some accounts for reasons beyond anything we can imagine have more problems than others. Some get requested docs right away etc...Others are flawless. So only add the EIN if you love the account and know it will last.
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  #10  
Old 02-25-2017
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Default

Quote:
Originally Posted by yankee View Post
Open with stealth, operate normally. If the account is going great, no issues, etc...when paypal asks the FIRST time for the tax info, then add your EIN and use the last four of the EIN for the SS.

It is that easy.

The problem with adding an EIN right away is some accounts for reasons beyond anything we can imagine have more problems than others. Some get requested docs right away etc...Others are flawless. So only add the EIN if you love the account and know it will last.
I've done this (finally) - Converted to a business account. PayPal asked for standard business information - type of, income, etc. NOT ein.

Next page was ss and dob. Used last 4 of EIN for the SS as you suggested.

My only question is what to put for DOB - since this is stealth, I guess it really doesn't matter.

Thanks for all the advice in this thread; it's been much appreciated and very helpful.
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Old 03-03-2017
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Default Re: Making permanent biz account

So you just simply add the last 4 of your EIN when PayPal asks for the last 4 of your social? I thought I had to call.. I've been dreading it all day, and was ready to login and get my exact account information so I didn't miss one digit when confirming information
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Old 04-10-2017
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Default Re: Making permanent biz account

Quote:
Originally Posted by blockhead View Post

Next page was ss and dob. Used last 4 of EIN for the SS as you suggested.

My only question is what to put for DOB - since this is stealth, I guess it really doesn't matter.
I was wondering the same... Use the last 4 of your EIN for your SSN and any DOB?

Is this right?

Thanks
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  #13  
Old 04-10-2017
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Default Re: Making permanent biz account

Quote:
Originally Posted by ecommaster View Post
I was wondering the same... Use the last 4 of your EIN for your SSN and any DOB?

Is this right?

Thanks
I would use a date of birth that makes sense and you can remember. I would consider using your own. Hard to forget that one.
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