What is fei number?

Fei number, also known as the Federal Employer Identification Number, is a unique nine-digit identification number assigned by the Internal Revenue Service (IRS) to businesses for tax purposes. This number is used to identify a business entity and is similar to a social security number for individuals.

Businesses are required to obtain an FEIN if they have employees, operate as a partnership or corporation, or file tax returns for employment, excise, alcohol, tobacco, or firearms. Sole proprietors without employees can also choose to obtain an FEIN for business purposes.

FEINs are used for various purposes including opening a business bank account, filing tax returns, hiring employees, and obtaining business licenses and permits. It is important for businesses to protect their FEIN and not share it with unauthorized individuals to prevent identity theft and fraud.