Employer Identification Number (EIN)

An Employer Identification Number (EIN) is also known as a federal tax identification number, and is used to identify a business entity. Generally, businesses need an EIN. Most banks require a Federal Employer Identification Number (EIN) when opening a corporate bank account. The federal form, Application of Employer Identification Number (SS-4) must be completed and submitted to the IRS for you to receive your EIN.