New EIN for Each Property in LLC

2 Replies

Hi fellow investors!

I am closing on the purchase of 12-unit building this week and the property will be inside an LLC. Do you typically apply for an separate EIN for each LLC? Or just use your own SSN and keep it simple?

Thanks in advance for your inputs!

Weina,


Your SSN and EIN are two separate things and I would highly recommend that you keep them that way.

Yes - Get an EIN for the LLC and use that in all communications with the IRS, Contractors, Tenants, Service Providers, etc.

NO - Do NOT give your SSN to anyone that does not have 'right' to it (e.g. Bank when opening account). When you do provide it (e.g. applying for loan in your own name), make sure they are a reputable company.

Unfortunately identity theft is a real thing and can really screw up your life for year and years once it happens.

Oren

Thanks!

Originally posted by @Oren K. :

Weina,


Your SSN and EIN are two separate things and I would highly recommend that you keep them that way.

Yes - Get an EIN for the LLC and use that in all communications with the IRS, Contractors, Tenants, Service Providers, etc.

NO - Do NOT give your SSN to anyone that does not have 'right' to it (e.g. Bank when opening account). When you do provide it (e.g. applying for loan in your own name), make sure they are a reputable company.

Unfortunately identity theft is a real thing and can really screw up your life for year and years once it happens.

Oren

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