EIN and personal bank for MP

[likefrasers]

Received the MP action request this morning - same as most of us here.

Can we just use our personal real name in the "business name", then add the real business EIN, then add the personal real bank name?

So the bank name would be matching, and EIN number would be matching with the business real owner, without submit our real SSN.

[midwestman]

I'm looking for info on this as well. I have a bak account and ebay account both in a business name both setup with EIN.. Will eBay ask for a ssn even though the eBay acc and ban acc are both setup with the same business llc?

[animekings99]

Originally Posted by likefrasers

Received the MP action request this morning - same as most of us here.

Can we just use our personal real name in the "business name", then add the real business EIN, then add the personal real bank name?

So the bank name would be matching, and EIN number would be matching with the business real owner, without submit our real SSN.

When do we have to do this by. Also can you send a screenshot of the ebay message
More then likely I might have to get off of ebay . Any info will help thanks.

[animekings99]

I have no business names I'm useing friends ssn but ebay and paypal are in 2 different names .

[likefrasers]

I have a real company, real EIN, stealth ebay, stealth PayPal with my real EIN . I always use my stealth PayPal to send money to my personal bank account (because they accept mismatch name). I reported tax from my personal bank income which is legal and fair as well because I haven't open any business bank account yet.

Now I can see most of us here are celebrating leaving PayPal and saying how smooth and good Adyen is - with their real personal info instead of stealth.

In my opinion this is totally out of the discussion as what we are discussing on this forum: the most important thing is to be stealth and have multiple accounts in a fairly easy way.

If you use your real info to set up MP, what's the difference than the original PayPal? It was also smooth like a silk to me when there's nothing wrong happened with it.

I really don't see any way around this.

Originally Posted by midwestman

I'm looking for info on this as well. I have a bak account and ebay account both in a business name both setup with EIN.. Will eBay ask for a ssn even though the eBay acc and ban acc are both setup with the same business llc?

[Camaro2SS]

Okay so basically we are all ****ed .... I can’t believe this is the end of stealth but worst of all I will be losing dozens of accounts.

[phaz0rz]

Originally Posted by animekings99

I have no business names I'm useing friends ssn but ebay and paypal are in 2 different names .

Lol you're going to have to get past that, man. You're creating tax liabilities for your friends and your "borrowed identity" scheme won't work in MP unless your friends are willing to open bank accounts for you to add.

That's bad.. really bad.

[phaz0rz]

Originally Posted by midwestman

I'm looking for info on this as well. I have a bak account and ebay account both in a business name both setup with EIN.. Will eBay ask for a ssn even though the eBay acc and ban acc are both setup with the same business llc?

I think it depends on the entity type you're using. Logic says that if you're using something like a multi-member LLC or a corp/s-corp, they won't require a SSN because there are multiple members and multi-member entities file their own tax returns anyway.

I can say for a fact that if you're using a single-member LLC they do ask for your SSN/personal name along with your EIN/business name. Single member LLC's are pass-through entities (meaning they don't file their own tax returns and the profits/losses are instead reported on the owner's personal tax return through a schedule C form) so eBay is probably being required to collect SSN's for them, so they can know who is responsible for paying the income tax debt that may arise in the account's lifetime.

[phaz0rz]

Originally Posted by likefrasers

I really don't see any way around this.

More EIN's and LLC's, most likely.

You should really go ahead and open a business bank account for the EIN/LLC you already have. eBay isn't going to allow you to link a personal bank account once you upgrade your account to MP, so you're going to need a business bank account in the name of your business.

When you go to open one, the only things you need to take to the bank aside from the standard two forms of ID are your articles of incorporation/organization, and your paper from the IRS with your EIN on it.

[likefrasers]

It's not the problem to open a bank account with my LLC, the problem is, Paypal don't check if the stealth named person (and stealth address) really owns this LLC or not, they don't even check if the the bank account you add to your stealth PayPal account should be a private one or business one.

But MP? Will they check online if the owner of this registered LLC is this stealth name (stealth ebay info)?

If we only discuss about how good it is a real account would be - then it should be discussed in some other forum. The reason why we are here is for stealth and how we can manage the stealth as the stealth should be instead of adding your real private info.

Originally Posted by phaz0rz

More EIN's and LLC's, most likely.

You should really go ahead and open a business bank account for the EIN/LLC you already have. eBay isn't going to allow you to link a personal bank account once you upgrade your account to MP, so you're going to need a business bank account in the name of your business.

When you go to open one, the only things you need to take to the bank aside from the standard two forms of ID are your articles of incorporation/organization, and your paper from the IRS with your EIN on it.

[phaz0rz]

I don't know if they're going onto state websites and verifying the owners of companies.

When I upgraded the one account I have in MP, this is how it went:
(this account was purchased as a stealth account here years ago and still had a 'stealth name' on file)
During the application they asked for my EIN, business name, SSN, and personal name. My LLCs are all single member so that is probably why they insisted on getting my SSN (see post #9). They accepted all the info I provided and my account details were automatically changed to reflect the real personal info I gave them. Then I gave them my LLC bank account and it's been smooth sailing since. I effectively changed my stealth account into a non-stealth account that has both my business and personal info on file.

If you want to talk about it somewhere else, I don't know what to tell you. I'm sure there are other forums but this is the best place to discuss it.

It remains to be seen what will happen when I'm forced to upgrade my other 2 US business accounts to MP. Hopefully since they each have their own EIN/business name, eBay won't be put-off by the fact I'm submitting the same personal information again. On my Canadian accounts I'm probably just screwed and will have to stop selling on them. I really don't know. This is just as much a threat to me as it is for everyone else.

[XTC4ME]

Originally Posted by likefrasers

But MP? Will they check online if the owner of this registered LLC is this stealth name (stealth ebay info)?

If we only discuss about how good it is a real account would be - then it should be discussed in some other forum. The reason why we are here is for stealth and how we can manage the stealth as the stealth should be instead of adding your real private info.

Couldn't you get around that by using a registered agent service so your name doesn't appear online?

[likefrasers]

The point is not my real name, the point is the stealth account name is not online with this EIN as the company was registered by me not by the stealth name, stealth name is not existing in reality - and that's what I am worried, MP would ask, why your name is not online together with this EIN?

Originally Posted by XTC4ME

Couldn't you get around that by using a registered agent service so your name doesn't appear online?

[Camaro2SS]

What’s the difference between switching to Canadian managed payments and US? Why would it be impossible to use Canadian eBay accounts anymore?

Originally Posted by phaz0rz

I don't know if they're going onto state websites and verifying the owners of companies.

When I upgraded the one account I have in MP, this is how it went:
(this account was purchased as a stealth account here years ago and still had a 'stealth name' on file)
During the application they asked for my EIN, business name, SSN, and personal name. My LLCs are all single member so that is probably why they insisted on getting my SSN (see post #9). They accepted all the info I provided and my account details were automatically changed to reflect the real personal info I gave them. Then I gave them my LLC bank account and it's been smooth sailing since. I effectively changed my stealth account into a non-stealth account that has both my business and personal info on file.

If you want to talk about it somewhere else, I don't know what to tell you. I'm sure there are other forums but this is the best place to discuss it.

It remains to be seen what will happen when I'm forced to upgrade my other 2 US business accounts to MP. Hopefully since they each have their own EIN/business name, eBay won't be put-off by the fact I'm submitting the same personal information again. On my Canadian accounts I'm probably just screwed and will have to stop selling on them. I really don't know. This is just as much a threat to me as it is for everyone else.

[mjgo]

Originally Posted by phaz0rz

I think it depends on the entity type you're using. Logic says that if you're using something like a multi-member LLC or a corp/s-corp, they won't require a SSN because there are multiple members and multi-member entities file their own tax returns anyway.

I can say for a fact that if you're using a single-member LLC they do ask for your SSN/personal name along with your EIN/business name. Single member LLC's are pass-through entities (meaning they don't file their own tax returns and the profits/losses are instead reported on the owner's personal tax return through a schedule C form) so eBay is probably being required to collect SSN's for them, so they can know who is responsible for paying the income tax debt that may arise in the account's lifetime.

I looked at the checklist and for LLCs with multi members they require ID for a member with at least 25% ownership. Not sure how to get around the ID issue

[likefrasers]

Does that mean if I register a company with my family member and say he/she holds 1% ownership, then no need to provide the SSN?

Originally Posted by mjgo

I looked at the checklist and for LLCs with multi members they require ID for a member with at least 25% ownership. Not sure how to get around the ID issue

[mjgo]

The check list didn't specify that detail but it did say ID needed for verification. Over the next couple of months we should know more.

[ghackett5]

Sorry if this isnt the right thread but everyone is talking about business ebay accounts. I have only had Personal eBay Stealth and two of my good accounts got that email to upgrade to MP. What to do now? The paypals had a bank and I would withdraw to mismatched names....

[phaz0rz]

@camaross - bank accounts are currently the hold up for me.

[fadedstealth]

Originally Posted by mjgo

The check list didn't specify that detail but it did say ID needed for verification. Over the next couple of months we should know more.

A SSN is required for single member LLCs or a multi member LLCs during the MP sign up process. Add a person to your LLC give them a small share, use their SSN for the sign up process. When and if they ask for ID later on use the identity of added member to by pass check. An ID is not required to be uploaded during the sign up process.

[phaz0rz]

Originally Posted by fadedstealth

A SSN is required for single member LLCs or a multi member LLCs during the MP sign up process. Add a person to your LLC give them a small share, use their SSN for the sign up process. When and if they ask for ID later on use the identity of added member to by pass check. An ID is not required to be uploaded during the sign up process.

If you're going to try to multi member route, just please be aware of the differences in tax requirements.

TBH I've screwed people up on here in the past by recommending multi member LLC's because they took my advice then had a really hard time at tax time.

[fadedstealth]

Originally Posted by phaz0rz

If you're going to try to multi member route, just please be aware of the differences in tax requirements.

TBH I've screwed people up on here in the past by recommending multi member LLC's because they took my advice then had a really hard time at tax time.

I mean I honestly think this is the only way to go for myself since all my businesses were single members LLCs when I set up my stealth accounts. So my thought, is to just add another member to the LLC and bypass the ID check. I hear a user by the name of Yankee has done S-corp for all his MP accounts but I have no knowledge on the subject. I wish there was more discussion on that topic.