To open one or more bank accounts in the name of the organization (and to file Form 990 with the IRS after each fiscal year), you will need to obtain an employer identification number (EIN), also called a federal tax identification number. An EIN may be obtained by filing Form SS-4 with the Internal Revenue Service. Looking ahead, this step is necessary for withholding employee income tax once you begin to hire staff.
Obtaining an EIN usually takes no longer than 30 days, and there is no filing fee.
