SS4 instructions are sometimes difficult to follow. This is especially true if you’re a new foreign-owned US business looking to register your employer identification number (EIN) with the IRS.
And, since an EIN is required to process payroll, apply for business loans, and open a US business bank account for an LLC, you must follow the SS-4 instructions properly.
KEY TAKEAWAYS
- Your business needs to follow specific requirements to register an EIN with the IRS successfully
- Non-resident USA small business owners are required to fill out an EIN application form with the IRS
- An EIN is also a requirement for opening a business bank account in the United States for a foreign-owned US LLC
- It’s important you and your business understand the difference between an EIN registration letter and an EIN verification letter
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- SS-4 Letter
- What Is an SS-4 Letter?
- SS4 Instructions: Step-By-Step Process on How to Get One
- SS-4 EIN Registration Letter vs SS4 EIN Verification Letter (147C)
- SS-4 Form Complete… What to Do next?
- Do You Want Help Opening Bank Accounts?
SS-4 Letter
The SS4 instructions entail a detailed step-by-step process on how to apply, submit, and receive your EIN. However, as a foreign-owned US LLC, this can be challenging. That said, if you provide the proper information, meet the specific requirements, and submit the correct applications, you will receive an EIN for your business.
We’ll detail the step-by-step process you’ll need to follow when filling out your SS-4 letter. We’ll also cover the other SS4 letter examples you’ll need to be aware of during the EIN application process.
But, that’s not all.
As a bonus, we’ll share with you how you can open a business bank account in the USA for your foreign-owned company with the help of an SS-4 letter.
But, before diving in, if this is your first time visiting GlobalBanks, don’t forget to download your FREE USA Banking Starter Guide. It’s designed to help you open accounts in the USA for your foreign and non-resident business.
What Is an SS-4 EIN Application Letter?
Before we dive into the specific guidelines for filling out your SS-4 letter, let’s first discuss what an SS-4 letter is and what exactly it is used for.
An SS-4 letter is an IRS-numbered form, also referred to as an “Application for Employer Identification Number” form. And, it is a vital document owners of the business must fill out when applying for an EIN.
The IRS requires nearly all businesses in the USA to have an EIN for tax purposes. And the only way to apply for an EIN is by completing and submitting an SS-4 letter.
Beyond filing a tax return and reporting LLC taxes for non-residents, identification numbers are also a requirement for opening business bank accounts in the USA. Not to mention, when applying for a business bank loan, building business credit, and applying for business permits and licenses.
And, since all US businesses are eligible for an EIN, it’s important to consider completing an SS-4 letter.
With this in mind, let’s look at the step-by-step process on how to submit an SS-4 letter to acquire an EIN for your foreign-owned business.
SS4 Instructions: Step-By-Step Process on How to Get One
These are the SS-4 instructions for a new business looking to register its EIN for the first time.
If your business already has an identification number but you’ve lost it, you need to get an SS-4 EIN Verification Letter (147C) instead.
So, with that said, let’s look at the step-by-step process of getting an SS-4 letter…
Step 1: Visit the IRS Website
The first step required to obtain an SS-4 letter and an EIN is by visiting the IRS website. Here you will find an online tool allowing you to apply and complete the SS-4 letter completely online.
If you prefer to complete form SS-4 by hand, you also have the option to do so. That said, this option will take much longer as you’ll have to mail the form directly to the IRS.
So, depending on your timeline, you may want to consider filling out the form directly online.
Step 2: Provide the Required Information
To fill out the form, you must provide detailed information on both your personal and professional status.
For instance, you’ll be required to provide the following details:
- Your legal name
- Your company’s name
- The company’s mailing address
- The company’s day-to-day operations
- List of products and services the company sells
- Number of employees working for the company
- Business start date
- Structure of the company (LLC, sole proprietorship, corporation, partnership, etc.)
- Registered agent’s information
- Reason for needing an EIN
To complete the SS-4 form, you will need to provide all of the information listed above.
In some cases during the online application process, you may be required to provide additional information on your business…
Step 3: Answer Questions Related to Your Business
In addition to the general information mentioned above, you may be required to provide detailed information on the financials of your business.
Including annual gross receipts and expected annual income for the next year.
So, before starting the process, it’s important to have these items of information on hand.
Step 4: Submit Application (Online)
After filling out the form, providing detailed information, and answering all necessary questions, you can now press submit.
Once the IRS reviews your application you’ll receive a notice in your email confirming your approved SS-4 letter. Included in the email will be the new EIN the IRS has issued for your business.
As mentioned, this is only for companies that are requesting an EIN for the first time. If you have lost your EIN and need to request it again from the IRS you will need a different form. Read on below for more…
SS-4 EIN Registration Letter vs SS4 EIN Verification Letter (147C)
Depending on your situation, the letters you’ll be required to complete can differ.
So, with that said, let’s look at each SS-4 letter example one by one…
SS-4 Employer Identification Number Registration Letter
An SS-4 EIN Registration letter is used to apply for an EIN for your new business. You do this by completing the step-by-step process outlined above.
Completing this form and getting your EIN is the only way to begin processing payroll for your business.
Now, if you ever forget or misplace your identification number, you’ll need to request a verification letter from the IRS…
SS-4 EIN Verification Letter (147C)
If you have misplaced your EIN and are required to use it for banking purposes you’ll have to request an SS-4 Verification Letter (147C) through the IRS.
The only way to do so is by calling the IRS directly.
Fortunately, we have outlined the step-by-step process in our recent article “How to Request an EIN Verification Letter (147C)” to help you successfully verify your employer number.
For both letters, once your applications have been approved, you’ll receive the SS-4 confirmation letter by mail.
Before submitting your SS-4 letter, you must make sure you have provided the proper mailing address. That way, you avoid the possibility of not receiving your confirmation letter.
With that said, once you’ve received the SS-4 confirmation letter, you’re ready for the next step…
SS-4 Form Complete…What to Do Next?
So, you’ve followed the above instructed guidelines and now you want to know what to do next?
Well, to take all the proper steps to build a successful business, once you have your EIN, the next step is to open a business bank account in the USA.
But, you don’t want to open a business bank account with just any bank. And if you operate a foreign-owned business in the USA you won’t be able to anyway.
So, what are the key factors you need to look at when choosing a bank to open a business bank account with?
Well, you need to find a bank that offers low-cost payment processing, reasonable financing, and attractive company credit cards. But also, one that accepts foreign-owned businesses.
Fortunately, there are many options to choose from. In fact, if you choose to register your newly foreign-owned LLC in Delaware and are looking to open a business account remotely, then you might want to open a Delaware business bank account online.
Of course, like banking anywhere, opening business bank accounts in the USA can be challenging. This is especially true for non-resident individuals and foreign businesses.
With this in mind, we help our GlobalBanks USA members open business bank accounts for their foreign-owned USA companies in the USA on a regular basis.
But, that’s not all.
Our GlobalBanks USA members get direct support from our team of banking experts where we answer difficult business banking questions, like what a bank acceptance is, and suggest specific banks that match your client profile and business banking needs.
We also make direct introductions to banks in the USA to help start the process of opening a business bank account for your US LLC.
So, if you’re ready to get started today, here’s how…
Do You Want Help Opening Bank Accounts?
If so, you can get access to GlobalBanks USA (our dedicated US account opening service) in just a few clicks.
GlobalBanks USA is a 100% personal account opening solution. It provides direct access to our team of US banking experts.
When you join, you receive…
+ Expert suggestions on where to open US bank accounts.
+ Step-by-step support to navigate US account opening.
+ Direct introductions to helpful and responsive bankers.
+ Plus, detailed guides to maximizing the value you get from your new USA bank account.
And “yes!” GlobalBanks USA helps foreigners and non-resident individuals open accounts.
In fact, GlobalBanks USA even helps non-resident US LLCs and foreign & offshore entities.
To learn more about opening accounts with GlobalBanks USA, just click here now. Or, contact us directly with any questions!
