New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.


LLC with EIN

Asked by: Craig  — 2 March, 2011

Do I need a employer ID number if I am selling the LLC right away?

Answered by: admin  — 2 March, 2011

Dear Craig,

Technically, you will not need the EIN if you are selling the business right away. You need the EIN in order to open a bank account for your company or to file the company taxes. But if you do not intend to do either before the company is sold, then you can just have the new owner worry about getting the EIN.

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