Incorporation 101: Federal Employer Identification Number

Can I Cancel My EIN?

Can I Cancel My EIN?

Once an EIN has been assigned to a business entity it becomes the permanent Federal Taxpayer Identification Number for that entity. Regardless of whether the EIN was used or not, it is never reused or reassigned to another business entity.

The IRS cannot cancel your EIN. However, if you receive an EIN but later determine you do not need it (for example, the new business never materialized), the IRS can close your business account. The EIN will still belong to the business entity and can be used at a later date, should the need arise.

EIN vs. Social Security Number (SSN)

EIN is similar to SSN, however unlike SSN that is assigned to individuals, EIN is assigned to legal entities that act as employers (hence the name). Examples of such entities are: sole proprietors, corporations, LLCs, partnerships, non-profit organizations, trusts and estates, government agencies, certain individuals and other business entities.

Individuals who are employers may choose to either obtain an EIN or use their Social Security Number for the purpose of reporting taxes withheld on behalf of their employees.

Incorporation 101: Federal Employer Identification Number

By: MyUSACorporation.com

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