Merge Initials EIN with airSlate SignNow

Merge signatory EIN

all right so in this video i wanted to cover a very common question i see and a definite worry a lot of new business owners have is they say jason my ein does not match the legal entity name that i set up in the state whatever it might be delaware florida wyoming is that a problem is that an issue for me so the short answer is no it's not a problem and i'm going to go through on this slide why that's not an issue one and two why it's incredibly common so the first thing to know just from the background here once you set up a legal entity under state law every u.s entity needs to have an ein so an ein is an employer identification number this can be submitted either online or in some circumstances you actually have to fax or paper file a form ss4 which is the ein application so the ein is the tax id number for a company or 10 right so individuals have social security numbers or itins that's their version of a tim for a company it's an ein so the ein is absolutely necessary because every u.s company has to file some type of tax return and you can't file a return without an eim you also need an ein to open any kind of bank accounts you need the ien to file payroll tax returns if you have employees and you also need them to simply complete any irs withholding certificate so if you have to complete a form w-9 you're going to need the ein for the company right so must have the ein so now let's look at what are the naming limitations so the irs system doesn't allow all types of characters to be included in the name so that's why it's normal to not have a name on your ein confirmation that matches exactly with what you created under state law so some of the limitations valid characters are the following so you can use numbers 0 through 9 all alpha numeric numbers right so a through z zero through nine those are all those are all okay you can have a hyphen in there and you can use an ampersand now what's commonly uh not included are periods and commas right so in this example right john forms a legal entity in delaware john consulting company inc notice how the legal entity name has a comma after a company and then inc is abbreviated with a period there that's okay to set up under state law perfectly normal perfectly common but the ein confirmation letter is going to show the following because it cannot include the comma and it cannot include the period so it is perfectly normal to not have the ein match exactly uh for the most part it should match absent you know all these prohibited characters okay so what about e-filing does that create an issue...