This EIN number mistake could waste several months and delay your business launch!

27 Jun 2022 · 1 min

Watch on YouTube

0:46

An EIN is your business's Social Security number and you need it to open a bank account. But don't apply for one right after filing your LLC. Wait until the state officially approves it, or a rejection later means changing the EIN, which delays your launch by months.

Chapters

Make sure you don't make this mistake when getting the EIN number for your LLC. So an EIN number is basically the business's Social Security number, and it's what is required so that you can open up the business bank account. By the way, the business bank account is also required when you have an LLC so that you don't commingle your funds and so that you can keep the protections that the LLC provides to you. But the mistake that you should not make when obtaining the EIN number is getting it right after your LLC is filed. You need to wait for the state to confirm that the LLC has been approved before you get the EIN number. A lot of people will file for the LLC and then right after they'll try to get the EIN number, and the issue with this is that the state might reject the LLC, in which case you'll have to change the EIN number, which could take several months. Thanks, and follow me for more.

More from Robert

0:37

youtube.com

Discover if your business needs a trademark 🤔 Watch our latest video & protect your brand 🛡️

3y ago

0:46

youtube.com

LLC or Corporation: Which is right for your business? 🤔 Considerations here! 👉 #BusinessEntity

3y ago

0:27

youtube.com

Unlock the secret to signing contracts with an LLC 🤝🔑 Watch now! #LLCContracts #BusinessTips

3y ago

0:33

youtube.com

Moving your LLC to a new state? 🚚 Discover your options! 🌐 #LLCRegistration #BestLLCState

3y ago

0:27

youtube.com

Dive into the battle of business structures: LLC vs Corporation 🤜💥🤛 Unravel the best choice for you!

3y ago

0:20

youtube.com

Minimize personal liability with your LLC! 🛡️ Learn to sign contracts the right way. 💼✍️

3y ago

0:42

youtube.com

Don't risk it! Protect your website with a privacy policy & TOS 😎🔒 #OnlineSafety #LegallySmart

3y ago

0:44

youtube.com

Debunking the myths: LLCs vs

3y ago

0:42

youtube.com

Discover the secrets to safeguard your assets! 🛡️ Learn LLC essentials now & secure your protection.

3y ago

0:40

youtube.com

Discover the power of LLCs for investment property owners 🏠💼 Unlock maximum protection!

3y ago

0:45

youtube.com

Discover the perfect time to consider registering an LLC! ⏰💼✨ #BusinessTips #StartLLC

3y ago

See all content