The best time to apply for EIN number is when you form your business entity, though you can obtain an EIN even before officially starting your business.
The decision on when you should apply for an EIN will fall on you and your needs, but it’s important to understand how the process will work and when you should apply for an EIN.
Getting your EIN is a big deal. This is especially true if you are growing your business and have decided to incorporate. So if you fall in this particular category, then congratulations! Your business is “official” in the eyes of the IRS and you are now able to engage in activities that may have been closed to you as a sole proprietor. Having an EIN also adds credibility to your business when it comes to applying for credit and loans, working with vendors and engaging partners.
Since 2004, Incfile has been helping businesses with their business formation needs. Incfile's complete EIN service handles the whole process for you — no matter when you need to apply for your EIN.