Millions of small business owners are currently applying for loans in one of the new SBA emergency loan programs related to the COVID-19 crisis (e.g., EIDL and PPP loans). Apparently, one of the due diligence documents lenders are asking loan applicants to provide with their applications is a document referred to an “EIN Letter” or “EIN Confirmation Letter”. This is a computer-generated form letter provided by the IRS within about a month after a business entity applies for a new federal employer identification number (EIN) on Form SS-4. Unfortunately, many business owners do not realize this is an important document to retain with the company’s other formation documents (e.g., Articles, Operating Agreement, Bylaws, etc.), and they end up scrambling when a third party asks to see it.
The good news is you can obtain a replacement EIN Letter if you cannot find the original. A corporate owner/officer can request a replacement copy from the IRS by calling 1-800-829-4933 between the hours of 7am and 7 pm during the week. Request a 147c letter when you speak with an agent on the phone. There is no fee or charge for requesting a copy. The IRS will either mail it to you or fax it to you. Unfortunately, I have heard recently that the IRS has temporarily suspended this “replacement letter” service. If you need assistance with your business entity formation, maintenance, or other due diligence issues, call or email us at Perkins Law anytime.