A simple guide to validate the EIN and the legal name combination correctly.
If you’re a self-employed individual in the gig economy that wants to verify the EIN of the payer or a financial institution trying to onboard an entity, TIN matching is the way to go.
TIN matching, or in this context, EIN matching, is essential for identifying, validating, and verifying the real identity of the entity. An entity could be a company, an estate, a non-profit organization, or a firm.
EIN lookup allows you to find and verify the important details of an entity and its standing legal status with the IRS.
This means, you can check the TIN match status, which gives you insights into the credibility and validity of the company or the employer.
But TIN matching alone will not be enough to gain other important details about a company.
For example, if you want to check the legal incorporation details, civil liability history, and the tax-exempt status of an organization, KYB (Know Your Business) checks, such as SOS Entity Search, Tax-Exempt Org. Search and more would be helpful.
For the remainder discussion of this blog, we will primarily focus on the definitions of TIN matching, or in this context, EIN lookup, and how to check an entity’s EIN.
So, let’s get to it.
What Is EIN?
E – Employer
I – Identification
N – Number
EIN is a unique identification number assigned to an entity at the time of EIN registration. Businesses apply for EIN with the IRS to request the federal agency to assign a unique identification number.
If you’re new to this and not sure how to apply for an EIN, we recommend you give this guide a good look.
If you already have an EIN, you can check the real-time status by conducting a simple TIN match search.
EIN – this unique number of identification can be a combination of letters and numbers. When you enter the EIN along with the legal name of the entity, you will find the EIN match results.
The reason many CPAs and accountants place such high importance on the accuracy of the TIN/EIN is that the IRS may penalize you if you report an incorrect TIN and even reject your returns until corrected.
Let’s learn more about this in detail.
EIN Look Up / EIN Validation / EIN Match / EIN Verification
EIN Look Up has many synonymous terminologies. But the mechanism is the same. EIN verification is a process of validating the Employer Identification Number along with the legal name of the entity per the official records of the IRS.
You can verify the EIN with the IRS TIN Match system or use Tax1099’s super fast real-time TIN match program (more on this as you scroll).
If the EIN and the legal name of the entity match the records of the IRS, it’s an EIN match.
If the EIN and the legal name of the entity do not match the IRS records, you may have entered incorrect EIN/legal name details.
Alternatively, if the TIN match system notifies you that the searched details are invalid, it could mean that the IRS has no record of the entity, meaning that you may have invalid details.
How To Check EIN Of A Company?
For a super-quick real-time search experience, we recommend Tax1099’s real-time TIN match program which allows you to search 100,000+ TINs within a minute.
We have accelerated the TIN match process, which means you don’t have to wait for hours or days to see the TIN match results.
All you need is the entity’s EIN and the legal name (as registered with the IRS) to conduct a quick EIN check.
You can also expand your EIN search by importing your bulk data to our powerful and secure platform. Learn more about our integrations widget to import bulk data.
And you don’t have to worry about accuracy. Tax1099 is directly connected with the source i.e., the IRS; which means your EIN verifications are met with accurate, real-time results.