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Old 06-20-2015
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Default Changing EIN numbers on Paypal account

I was trying to see if anyone has any experience, or has any advice on changing EIN numbers on paypal? About a month ago I got hit with the 20k 200 listings email with paypal. I was forced to use an old EIN number I have had for about a year, because paypal limited my account until I provided a SSN, EIN or TAX ID. So far I have still been able to use my eBay and paypal with no problem. I need to switch EIN numbers and upgrade to a business account, because I know this will be an issue when it comes time for the 1099s to come. I now have my Stealth Business name EIN ready to be inserted. Will I have any issues with Paypal if I edit anything?
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Old 06-20-2015
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Default Re: Changing EIN numbers on Paypal account

If PayPal accepted the EIN, then they verified it with the IRS as matching on the name, so it might be OK. Is there any reason you cannot use that EIN? Is it still active?

I have changed the EIN ONCE on one account. PayPal wanted to know why and I told him it was for a partnership LLC and the partners decided to go their own ways and since the PayPal account was mine, I wanted to put it under my new EIN. It was not a problem, but I cannot guarantee you will have the same result.
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Default Re: Changing EIN numbers on Paypal account

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Originally Posted by jeffweico View Post
If PayPal accepted the EIN, then they verified it with the IRS as matching on the name, so it might be OK. Is there any reason you cannot use that EIN? Is it still active?

I have changed the EIN ONCE on one account. PayPal wanted to know why and I told him it was for a partnership LLC and the partners decided to go their own ways and since the PayPal account was mine, I wanted to put it under my new EIN. It was not a problem, but I cannot guarantee you will have the same result.
It is still an active EIN and hasn't been used on any other accounts. I'm just worried because my name doesn't match my stealth name.
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Default Re: Changing EIN numbers on Paypal account

When you input the information, PayPal verifies that the name and EIN match. In the case of a personal EIN, or a sole proprietorship they verify that YOUR NAME matches the EIN. In the case of a corporate or LLC EIN, they verify that the BUSINESS NAME matches the EIN.

How long ago did you input the EIN?
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Default Re: Changing EIN numbers on Paypal account

I put it in about a month ago. Still no issues at all and it is still personal paypal account.
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Default Re: Changing EIN numbers on Paypal account

That is odd. Maybe they have not checked it yet for some reason. You have awhile to change it before it becomes critical, tax wise.

I would have the new EIN ready, but I would wait until PayPal contacts you about it. If it does not verify, they will send you an email saying that it did not verify and please re-submit the information. THAT is when you want to change the EIN if necessary AND upgrade to a business account. I did this on an account and I couldn't find the way to do it, so I called in. The rep asked why I upgraded and I told him my tax guy was on my case about making sure all of the I's were dotted and the T's crossed to make sure there were no issues in the future. He said it sounded like good advice and upgraded the account for me.
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Default Re: Changing EIN numbers on Paypal account

Thanks for this advice, I will follow it.
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