What is an EIN used for?

An EIN is your company's U.S. tax ID number. It is used on business tax forms and may be needed when applying for a U.S. business account or setting up business payments. Companies hiring employees in the U.S. generally need an EIN to report wages and handle employment taxes. Account and payment providers may also require company documents and identification; having an EIN alone does not guarantee approval. The tax returns your company needs to file depend on its circumstances.