If you are a sole proprietor, you are still able to use Stripe without obtaining an EIN! Stripe is built for all kinds of businesses, which include individuals who may not have a tax ID. When you activate your account, you can skip the EIN page.
We do strongly suggest you obtain an EIN and it is very easy to do so in only 5-7 business days. The only thing you need to do complete an application on our web page. After your application is done, we will immediately contact you for next steps.
When you have your EIN, this is how you should update your TIN (TAX ID); Please check below…
We recommend to upload the government-issued EIN letter (Letter 147C), and it is very important to enter information on stripe exactly the way it is written on the EIN letter.
Here are some helpful guidelines for your business type. These are general guidelines— every business will have its own unique case.
Individual: Individual Name and SSN
Sole Proprietor: Individual Name and SSN (or EIN, if your Sole Prop has one)
Single-member LLC that is disregarded for federal tax purposes:
If owned by an individual: the owner’s individual name and SSN or EIN. The LLC’s name or EIN should not be used
If owned by a corporation or partnership: the owner’s name and EIN. The LLC’s name or EIN should not be used
LLC that is treated as corporations or partnerships for federal tax purposes: the LLC’s name and EIN
Corporation: Business Name and Entity’s EIN
Partnership: Business Name and Entity’s EIN
Other entities: Enter your name and EIN as shown on the required U.S. federal tax document. This name and EIN should match the name and EIN shown on the charter or other legal document creating the entity.
CHECK FOR MORE DETAIL: https://support.stripe.com/questions/update-tax-information-in-stripe
Ein-itin.com is a brand of Cohen Investment LLC, act as a Certified Acceptance Agency. Ein-itin.com provides professional services to prepare and apply for an Individual Tax Identification Number (ITIN) to submit through IRS. As a Certified Acceptance agent , Ein-itin.com prepares and submits applications for an Individual Taxpayer Identification Number (“ITIN”) on behalf of their applicants. Ein-itin.com tracks the application processing and notifies ITIN Applicants for their ITIN Confirmations. Ein-itin.com understands the applicant situation, inform before the ITIN Application process. Ein-itin.com helps to applicant to apply for their ITIN in a convenient way to avoid mistakes and rejection for ITIN Application. Any individual may hire us to prepare, submit and obtain his or her ITIN Number (via W7 Form) application to the IRS.