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I have 3 different home internet businesses. Someone at my

bank told me I needed...
I have 3 different home internet businesses. Someone at my bank told me I needed a separate EIN number for each small business checking account that I want to open. I already had 2, so I applied online for another one a few days ago. I was just reading more about EIN numbers online and it looks like I should only need one. Was the person at my bank completely wrong, or do some banks require that you have different EIN numbers for each bank account? Also, if I did only need 1, will I get in any kind of trouble with the I.R.S. for having 3?
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Answered in 18 minutes by:
8/3/2011
Dwayne B.
Dwayne B., Attorney
Category: Business Law
Satisfied Customers: 34,314
Experience: Practicing for over 20 years and helped a number of businesses with litigation.
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Legally, there is no reason for it but banks are notorious for believing that they understand what tax law and corporation law requires when they really don't. It is likely just their bank policy, because there is no law requiring it.

No, you won't get into any trouble with the IRS. You don't have to have separate EINs but it doesn't hurt anything.



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Dwayne B.
Dwayne B., Attorney
Category: Business Law
Satisfied Customers: 34,314
Experience: Practicing for over 20 years and helped a number of businesses with litigation.
Verified
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Experience: Practicing for over 20 years and helped a number of businesses with litigation.

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