Study guide

The EIN and the Oregon BIN (step 4 of 6)

The main points of the lesson on one page, for review.

An Employer Identification Number is a nine-digit IRS number for business tax filing and reporting; you do not need employees to get one
Banks generally want it to open a business account, and it puts the practice's number on paperwork instead of your Social Security number
It is free: the IRS says so on its application page. Sites that charge are selling a free application, and some rank above irs.gov
The online application is an interview: it asks questions and assigns the number at the end of the session
Form SS-4 is the paper equivalent; its instructions explain what each online question means

The LLC's exact legal name as filed in step 3, and the filing date
The state of formation and the practice address
Your name and Social Security number (the owner applies for a single-member LLC)
Whether you expect employees; a no today does not stop you hiring later
Save the confirmation the moment it appears: the bank, payer credentialing, and every tax filing need the number

The Business Identification Number is Oregon's number for payroll taxes, obtained through Revenue Online
No employees and no plans to hire: nothing to register; you do not need it to see clients, bill insurance, or file your own taxes
Hiring a receptionist or an associate: register before their first paycheck
The Department of Revenue page states no fee; be suspicious of a third party charging for it

	EIN	Oregon BIN
Issued by	IRS	Oregon Department of Revenue
Needed with no employees	In practice yes (banks, payers, tax forms)	No
Needed when you hire	Yes	Yes, before the first paycheck
Cost	Free, per the IRS	No fee stated
Where	irs.gov interview, or Form SS-4	Revenue Online

The IRS confirmation notice (CP 575) lists the LLC on the first line and the owner's name with SOLE MBR on the second, the label for a single-member LLC treated as a disregarded entity
Banks and payers expect the name exactly as printed there