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Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

Looking to upgrade my paypal personal account to a business account.

If I request an EIN from the IRS as a sole proprietor doing business as a fictitious biz name with my real SSN info and upgrade my paypal account using this business name and associated sole proprietor EIN is there anyway for PayPal to tell by my EIN number that it is a sole proprietorship vs LLC or corporate entity EIN?

I would think if Paypal could tell your EIN were just a sole proprietor they would be more likely to request your actual SSN than if you registered the entity with the IRS as an LLC .

Anyone have any info on this or experience?

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

Yeah they should already know that it's an EIN number

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

Of course PayPal can tell its an EIN, that is self evident. That was not what I was asking. Let me rephrase the question.


Can paypal tell its an EIN from a SOLE PROPRIETOR/DBA or if its an LLC's EIN..

If they can tell its an EIN from a sole proprietor would they not then find out the name of the owner or request owners SSN and thus ban the account.

Is it safer to get an EIN as an LLC or does it not matter?

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

I doubt they can tell what type of EIN you have.

But it has been recommended around here to use a multi-member LLC. Otherwise, I believe, you would be liable for any debts the company incurs.

Wait on the response of others because I'm really not sure. All of my EIN's are multi-member LLCs. I just finished my taxes a few weeks ago and everything's great, so I don't really study into it.

Maybe reach out to JeffWeico, he's the legal expert.

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

Yes, they can.

When you have a sole proprietor EIN, it verifies the EIN against YOUR REAL NAME.

You want an EIN for a multi-member LLC. That way, when they go to verify, they will be verifying the BUSINESS NAME against the EIN.

There is nothing in the number that tells PayPal what it is. But when you give them your business name and input an EIN that was registered as a sole proprietor, it will come back as a NO MATCH. Because the IRS will be looking for your real name.

Where some people have been successful is using an personal EIN is if their name is common. They can get one issued to their name and PayPal can verify it against their real name. Of course, this will only work registering another account in your name at a different address from where the account you burned was.

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

Hi sorry to interupt here..
I have a question regarding this post,last month i applied for an LLC EIN but i used the single member (1 person) instead a multi person. Am i screw here?

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

No. You just can't get another one of that type.

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

Thank you so much for the respond.
So in my case PP cant know my real name right? is that correct?
And do i need to change my EIN from single member to multi member?

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

I was just skimming over the details on IRS.gov, and I think you would be better off with a multi-member LLC. This is where I was reading:
https://www.irs.gov/Businesses/Small...lity-Companies

From what I've read, it's unclear if you would supply your EIN + business name to Paypal with a single-member LLC like you would with a multi-member.

You may want to wait on the input of Jeff on this one. My knowledge of corporate taxes is very limited..

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

Do you know if its possible to make a change now? Can I make the EIN reflect a multimember EIN so I can proceed with starting an amazon account with this info and how do I do this?

Re: Obtaining new EIN, can PP tell its sole proproter EIN not LLC
 

I was able to do this using my personal name in 2011 Tax Year when the IRS law first went into effect. My name match is not common so I was a bit surprised it worked and they left me alone. What I did have to do was all the stealth process including getting an address in another county. I think what may have been on my side was time. My personal PayPal with SSN had been lost I want to say in 2007. So I had about a 4 year lapse between creating accounts.

If you just recently lost your SSN account and try to use the same name with an EIN they might be more prone to detecting.