Manage payment system no EIN

[animekings99]

If we dont have an ein only have a ssn how would we do this all my PayPal acc have ssn no ein ???? I think were all getting closed down . Accidentally double posted sorry about that

[phaz0rz]

If all you have is an SSN then you'll only be able to operate one account with your SSN on file, presumably.

But EIN's are totally free and very easy to get. LLC's cost like a hundred bucks in most states. (sucks if you're in Cali/NY but w/e)

Here's the place you'd need to go : Apply for an Employer Identification Number (EIN) Online

It's a really simple application and you get your EIN on the spot once you answer all the questions. I haven't had to get one in a few years but the process is still the same. I've applied for/obtained a total of 4 EIN's throughout my e-commerce career and I've never had any problems whatsoever. I understand it can be an intimidating process for someone who's just getting into business/self-employment.. but it's easy.

This doesn't have to be the end - you're just going to have to get out of your comfort zone and try new things in order to keep moving forward.

[animekings99]

Thanks for the info

[stealthnorris]

Originally Posted by phaz0rz

If all you have is an SSN then you'll only be able to operate one account with your SSN on file, presumably.

But EIN's are totally free and very easy to get. LLC's cost like a hundred bucks in most states. (sucks if you're in Cali/NY but w/e)

Here's the place you'd need to go : Apply for an Employer Identification Number (EIN) Online

It's a really simple application and you get your EIN on the spot once you answer all the questions. I haven't had to get one in a few years but the process is still the same. I've applied for/obtained a total of 4 EIN's throughout my e-commerce career and I've never had any problems whatsoever. I understand it can be an intimidating process for someone who's just getting into business/self-employment.. but it's easy.

This doesn't have to be the end - you're just going to have to get out of your comfort zone and try new things in order to keep moving forward.

Upon reading around, it seems like even creating an LLC it will be hard getting over that hump.

Are they allowing to just have the business bank account name match the eBay business account name?

[phaz0rz]

Originally Posted by stealthnorris

Are they allowing to just have the business bank account name match the eBay business account name?

That's the requirement.

If you tell eBay during the MP application that you're a business entity, you're expected to add a business bank account once you reach that step of the application.

Using single member LLC's may not work since they are passthrough entities and eBay requires the SSN of the owner. But if you use any type of entity that has more than a single member, it should work.

[stealthnorris]

Originally Posted by phaz0rz

That's the requirement.

If you tell eBay during the MP application that you're a business entity, you're expected to add a business bank account once you reach that step of the application.

Using single member LLC's may not work since they are passthrough entities and eBay requires the SSN of the owner. But if you use any type of entity that has more than a single member, it should work.

I see,
great information. thanks Phaz!

I'm reading that some people have had success using their EIN in exchange for the SSN in that step.

Will this work for single member LLCs?

[fadedstealth]

Originally Posted by phaz0rz

That's the requirement.
Using single member LLC's may not work since they are passthrough entities and eBay requires the SSN of the owner. But if you use any type of entity that has more than a single member, it should work.

If you select the option to be any type of entity that has more than a single member, are you required to upload ID?

I'm on the MP page and going back and forth between single member llc and multi member llc a SSN is required for both..

[frau23]

So basically if I operated 5 different Stealth accounts, all of which had a variation of my own name they are all done? I`m not sure if E-bay had my SSN number years ago when they shut me down, and secondly even if they don`t I obviously can provide the same SSN for 5 different account.
What choice do I have?
Thanks!

[phaz0rz]

Originally Posted by fadedstealth

If you select the option to be any type of entity that has more than a single member, are you required to upload ID?

They didn't ask me to upload any kind of ID or anything else.

Originally Posted by fadedstealth

I'm on the MP page and going back and forth between single member llc and multi member llc a SSN is required for both..

Wasn't aware of this since I don't have any multi-member LLC's. Was just speculating that they wouldn't in that case since the LLC does it's own taxes.

I'm reading that some people have had success using their EIN in exchange for the SSN in that step.

Will this work for single member LLCs?

Hoping so. Some members here have hinted at that working but people are being hush-hush about it. I won't know until I'm forced to upgrade the rest of my accounts.

[vigilantex69]

So basically with managed payments you’ll only get to have ONE eBay account.

So those of us that have a couple of them will wind up having to move to just one? Because you can only register one SS number with one account?

[Steveo036940]

That's the presumption, however I believe Adyen will work just like other merchant accounts which allows you to have as many as you want.
Of course they'd all be linked and when a domino falls, so do all of your accounts.
True stealth (multiple unlinked accounts) will be dead. Despite people stating they'll be workarounds, it dosen't change the fact that EVERY adyen account requires a SSN and an identity check to open. Unless you are using someone else's SSN or stolen SSN (Big no-no's) you'll never be able to have multiple unlinked accounts with fictitious names again.

[likefrasers]

Yes correct. they would be able to confirm entities information on public website, if you use single member LLC but the owner's name doesn't match your MP, it will cause issue.

However if you use multi member LLC, ebay would still be able to find out the ownership, but they won't be able to confirm how much % of each shareholder.

The only way to get around this, is set up a multi member LLC with your family member or friends who trust each other, you hold most of the share, the other as less as possible to avoid future tax issues.

You register MP with your friends or family's personal info together with the multi member LLC.

But in this way, the account is not stealth anymore. It's a real account with all your friends' real information.

Originally Posted by phaz0rz

That's the requirement.

If you tell eBay during the MP application that you're a business entity, you're expected to add a business bank account once you reach that step of the application.

Using single member LLC's may not work since they are passthrough entities and eBay requires the SSN of the owner. But if you use any type of entity that has more than a single member, it should work.

[phaz0rz]

Originally Posted by likefrasers

It's a real account with all your friends' real information.

And things are 10x more difficult at tax time since the profits would have to be proportionally divided among the multiple members of the LLC.

Fingers crossed.. maybe we will be able to get by giving the EIN twice like we have always done when upgrading Paypals.

[x2ruff4u]

I just ran into this more so it's a bit a new to me. What's the best way to go about this now?

[HurricaneHuntr]

Originally Posted by x2ruff4u

I just ran into this more so it's a bit a new to me. What's the best way to go about this now?

The solution is to create a LLC and sign it up and hope they don't link them. 5-10 probably is max without the IRS asking wtf are you doing with all these llc's and all of them in the same type of business.

There are grey areas for all of this, and that's where stealth could still exist, however we won't know for sure until we see if ebay can persuade the democrats to back off taxing the poor, at least somewhat that is. I read a cnbc article saying that they were going to put pressure on the legislators about this 600$ 1099 thing that's upcoming, if the 1099 at 600 sticks, you can rest assure ebay is going to ask for your full ssn and not just the last 4 form the start, rather than later on.