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Same EIN on Paypal
 

Hi Everyone,

I received an email from Paypal requesting my EIN, so i called the IRS and they told me i am only allowed to have one EIN number associated with my Social Security Number.


I now have my EIN number, I am thinking this is the same number i provided Paypal on a previous stealth account that got limited a year ago.

I am trying to find out if i can use this number on my new Paypal, I changed my business name also. and my Paypal account is under the new business name i created. I am not sure if it would get linked or not.

Thanks!

Re: Same EIN on Paypal
 

If you try to reuse that number you're going to easily link the account together and your new Paypal is going to get limited too.

Yes, you can only have 1 EIN per SSN, but that's in regards to the sole proprietor business structure. LLCs and Corporations can have multiple EINs. And you can have as many companies as your situation allows.

Re: Same EIN on Paypal
 

I already gave them the EIN, hopefully i'll be ok, I called the IRS and they changed the business name, so it matches my Paypal Business Account.

Re: Same EIN on Paypal
 

So you filed for EIN not as sole proprietorship but as business?

Re: Same EIN on Paypal
 

no i filed as sole proprietorship

Re: Same EIN on Paypal
 

because i also filed as sole proprietorship and already used the ein on a old stealth.But I am being asked for ein on a new steath and was afraid I might get linked if I tried to re-use this ein.
What do you mean by changed the business name on the ein if its filed under sole proprietorship.

Re: Same EIN on Paypal
 

that is just what i did, except i called the IRS and they were able change the business name but the EIN number was still the same, I gave Paypal my EIN number but i haven't got linked yet

Re: Same EIN on Paypal
 

There are two things wrong here:

1. Reusing the EIN on another stealth account
and
2. Using a Sole Proprietor EIN for stealth

For #1, any unique information that you reuse will link you, there's no getting around that. Only one person will ever be assigned that EIN, so it is a very obvious link to you. They may not have taken action yet, but I can guarantee you that they will eventually.

For #2, the issue is that sole proprietor EINs are tied to you and your real information because in that business structure you (the person) are the legal entity vs a LLC or corporation where the business is the legal entity and so the EIN would be tied to the business. Jeffweico is very knowledgeable on this subject so I would recommend checking out his post about it here as well as his other posts on the subject.

I wouldn't rely on this account to last very long. Best to start over on a new account and have a new EIN ready if you need it.

Re: Same EIN on Paypal
 

ya i know it won't last long, that's why i am already in the process of getting another