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paypal & EIN: Should I or Shouldn't I?
 

So I have an Paypal business account. It is in my actual business name etc. account is fully verified with VBA and AVS VCC, email, phone etc. already starting selling on it and have bought things too.

It's only 2 weeks old. Baby account. My question is since I have not been asked for identity etc because I think since I put my business name and stealth name as the same thing but left off the LLC Ebay thinks it is a sole proprietorship and leaves it alone, should I volunteer my EIN?

Cause I am thinking if I wait for them to ask, they may ask for SSN and the kitchen sink. But if I upload the EIN now, they will lift my limits I think and may leave it alone.

:juggle:

Wait it out, you cant say legit business with ⊗⊗⊗⊗ info cuz then its bnot really legit. Also if you have a legit business theres no point in hiding from pp as they can easily do a quick search and know who knows the company as they did with me. They linked me to my first business from 5 years ago that wasnt even completely registered.

If you dont sell risky items or items that will get you in trouble, I would say go for it. Once you start raking in money you will have to do it anyways when you go to a business paypal account

It is a business Paypal account. The business name is correct. They can go to my state website and look up the business name and it comes as clear but in my state it will not show the persons name.

I am sure they use Lexus Nexus to find out all kinds of goodies. But the name for the stealth is not mine. Business address is a UPS mailstore mailbox. I do have a landline attached etc. I don't sell VERO, only men's clothing pre-owned and some kitchen items etc.

I was thinking if I go to them first, maybe they won't have a need to look at it further as long as I take things slow and not sell high risk. I want to keep the account and build it.

Happy to pay taxes on it if need be. Just not sure if others have waited or done it up front....

Catch 22

PP loves information - pro-active action on your part is good - tacking on the EIN wont necessarily hurt if you are aiming for high sales

You really think on a two week old account that paypal will lift your limits?

Share that weed with me will you?

The other angle is that paypal might limit you for the very reasons you are hoping they will not.

Broadly speaking what are your projected sales? Long term is going to affect short term.
:ranger:

Not planning here on huge sales off the bat. Would like to eventually grow this to 100 per month or so. Not hugely concerned about lifting limits quickly. I just though that might be a side affect.

My main concern here is I have a main account that is legit. It was suspended for 30 days, but now is not and I am full selling on it. I have a business name. The name for the business as an operator is Stealth but similar to my name. Different address and everything. I have an EIN. I am not sure how much info Paypal will dig up or how deep they will go against my EIN. My EIN is legit and is registered by me. My concern here about providing my EIN is it could then link my business account with my legit account.
If my legit account got taken down for whatever reason, and I had provided my EIN to my other account, would it then go down because they throughly checked my EIN and linked it to me.....

Hence deciding to give the EIN up front, wait, or not at all? My main goal is to protect my main account (legit). Then protecting my business account.

I have 10 other stealths I am growing slowly also, but my goal was to have a business account that could take over as my main account if needed and could possibly get higher selling limits quicker than my baby stealths. Those take 4-6 months to grow or longer as you all know. By providing the EIN, the limits could come off faster.

GB see the issue?

All I saw was a long post without paragraphs ;)

I'll digest it though

:juggle:

Its the acid rain from Seattle :shocked:

Explains why I am Sleepless

:shocked:

Eeewwww Bad Movie quote....Still looking for that expert advice though...

I have never had an EIN create a limitation where it stopped business. Id say have it handy, but dont use it until you must.

This.

10/char

Many good posts by jeffweico about EIN that should help with your path and decisions.