EIN to LLC

[datsun672]

Hi,

I created a EIN for my side hustle which I am trying to startup. I also created a LLC(different name than the EIN) in DE. I am currently trying to open a business banking account to separate my business expenses from my personal expenses. My personal credit is shot and seems alot of the business banks want to run my personal credit. I found one bank Lily that didn't do this but they are asking to show that my EIN's name has changed.

I am unsure if I did the process incorrectly? When I formed the LLC I stated the EIN company would be the owner.

Thanks!

 

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[Mikkel]

How do you even receive an EIN that isn't connected to your business? What is your EIN connected to?

 

[Johnny boy]

Lmao

This guy F*cked something up

An EIN is a social security number for a business essentially. You create an “entity” when you create a business like when you create a child. In the governments eyes it’s the same thing, you created a taxpayer. A taxpayer has an identification number. People have SS numbers, businesses have EIN’s.

They are 123-45-6789 digits (social security) or 12-3456789 digits (ein) and sometimes they can be used interchangeably for certain situations.

Your legal entity is spelled with all caps. Businesses are written in all caps in formation documents. Peoples names are written in all caps in lawsuits and other legal documents. That’s because when dealing with law, you have a LEGAL entity that is interacting with the law, which is not your physical being. Your legal entity is in all caps. You think they write it in all caps for fun?

You yourself are a corporation. You are a subsidiary held within the corporation of the country you belong to, identified with a passport and citizenship.



When you create a company, it doesn’t need an EIN unless it does things that require an EIN. You get one from the IRS. It takes no time at all and you can do it online with a quick google search.

The process of creating a company would be
1. If you’re retarded and need help, just talk to a lawyer
2. If you aren’t retarded, pick the best company structure for your purposes. (LLC, S-corp, partnership, limited partnership, C-corp, etc)
3. Create a company with the Secretary of State or whichever department deals with that in the state you want to form it in. Get all your bylaws, operating agreements, etc drafted up or diy, don’t do more than necessary though
4. Get an EIN number, then your bank account, then register with the proper agencies. (Payroll tax setup, department of revenue setup, etc.
Whatever is needed in your state.
5. Get your accountant/bookkeeper setup

 

[datsun672]

My first EIN is not connected to anything. I wanted to connect my LLC to the first EIN but since the names didn't match, I just created another EIN that is directly connected to the LLC.

 

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