Starting a business in Virginia? One of the first things you’ll hear about is the Employer Identification Number, or EIN. It’s the IRS’s version of a Social Security Number for your company, and you’ll need it for taxes, hiring, and opening a bank account. The good news? Getting an EIN is free, no matter where you are in the U.S.
Is There Any Fee for a Virginia EIN?
Short answer: No. The IRS does not charge for an EIN, whether you apply online, by phone, fax, or mail. Some third‑party services will try to sell you a “fast‑track” EIN, but you can skip the extra cost by using the official channels. Just make sure you’re on the real IRS website (irs.gov) before you start.
How to Get Your EIN Quickly and for Free
Here’s a step‑by‑step guide that takes about 10 minutes if you have everything ready:
1. Gather your info. You’ll need your legal business name, address in Virginia, the type of entity (LLC, corporation, sole proprietorship, etc.), and the name and SSN of the responsible party.
2. Go online. Visit the IRS EIN Assistant at irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online. The application is only available Monday‑Friday, 7 am‑10 pm Eastern time.
3. Complete the form. Follow the prompts, answer the questions, and double‑check the spelling of your business name. The system will validate your answers in real time.
4. Submit and receive your EIN. Once you finish, you’ll get your EIN instantly on screen. Print the confirmation page or save it as a PDF.
If you prefer not to go online, you can call the IRS Business & Specialty Tax Line at 1‑800‑829‑4933 (Monday‑Friday, 7 am‑7 pm local time) and get the number over the phone. Fax or mail applications take longer—usually 4‑6 weeks.
Even though there’s no cost, there are a few things to watch out for:
Make sure you’re the “responsible party.” The IRS requires a personal SSN or ITIN for the person who ultimately controls the business.
If you’re forming a partnership or corporation, you’ll need the state‑issued formation documents (like Articles of Incorporation) before you apply.
Don’t use a “temporary” EIN from a third‑party service; those can cause headaches when filing taxes.
Once you have the EIN, you can use it to open a business bank account in Virginia, apply for state licenses, and register for Virginia’s state taxes. Remember, the EIN is federal, so you’ll still need to register with the Virginia Department of Taxation for sales tax, withholding, and other state‑specific obligations.
In short, the EIN itself costs nothing, but the real work is making sure all your paperwork is correct. Follow the steps above, skip the paid middlemen, and you’ll be set to run your Virginia business without extra fees.
Securing an Employer Identification Number (EIN) is an essential step in establishing a business in Virginia. While the process itself is straightforward, many entrepreneurs wonder about the associated costs and the necessary steps to obtain an EIN. From understanding what an EIN is and why it is vital for businesses to exploring the application process and possible fees, this article delves into every aspect of acquiring an EIN in Virginia, offering practical tips and insights for new business owners.
