Publication 1635 - Understanding Your Employer Identification Numbers Page 6
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32Forms(s):
Business profits or losses are reported on Form 1040–Schedule C, Schedule C-EZ, or
Schedule F. A sole proprietor may also be required to file other returns that apply (such
as employment tax returns).
You will need a new EIN if:
• You file bankruptcy under Chapter 7 (liquidation) or Chapter 11
(reorganization) of the Bankruptcy Code or filed Form 8832 to elect corporate
status for your Limited Liability Company (LLC).
• You incorporate.
• You are a Sole Proprietor and take in partners and operate as a partnership.
• You are establishing a pension, profit sharing, or retirement plan.
You do not need a new EIN if:
• You change the name of your business.
• You change your location or add locations (stores, plants, enterprises or
branches of the entity).
• You operate multiple businesses (including stores, plants, enterprises or
branches of the entity).
NOTE: You may not transfer your EIN if you sell or otherwise transfer your business. The new operator may not
use your EIN. You can’t use the EIN of the former owner, even if it is your spouse.
NOTE: A Sole Proprietor who conducts business as a Limited Liability Corporation (LLC) does not need a
separate EIN for the LLC. He or she reports the business activities of the LLC on his or her Form
1040 using a schedule C, Schedule C-EZ or Schedule F.
2.
Corporation
Definition:
• A person or group of people who incorporate by receiving a charter from their
Secretary of State.
• Includes associations, joint stock companies, insurance companies, and
trusts and partnerships that operate as associations or corporations.
Form(s):
Corporations usually file a Form 1120 series return plus other returns that apply (such as
employment tax returns).
The Form 1120 series returns are as follows:
• Form 1120, U.S. Corporation Income Tax Return
• Form 1120 A, U.S. Corporation Short-Form Income Tax Return
• Form 1120 SF, U.S. Income Tax Return for Designated Settlement Funds
(Under section 468B)
• Form 1120 F, U.S. Income Tax Return of a Foreign Corporation
• Form 1120 FSC, U.S. Income Tax Return of a Foreign Sales Corporation
• Form 1120 H, U.S. Income Tax Return for Homeowners Associations
• Form 1120 L, U.S. Life Insurance Company Income Tax Return
• Form 1120 ND, Return for Nuclear Decommissioning Funds and Certain Related Persons
• Form 1120 PC, U.S.Property and Casualty Insurance Company Income Tax Return
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Parent category: Financial