US EIN and ITIN
EIN for American LLC
What is the EIN and how to obtain it
The EIN is the only mandatory pass to obtain the opening of a current account in the USA, given that in the USA tax authorities and accounts are closely connected and no entity or person can operate any account without first having obtained a verifying EIN. In fact, the EIN must bear on the obtaining form approved by the IRS, your first and last name, regardless of whether or not you have opened the LLC anonymously. The reason is that the bank must identify the final beneficiary of the account and the account manager and does so by making sure to match the IRS with the first and last name written on the EIN document.
EIN Equivalent to the VAT number of your LLC
Although the EIN is a tax code of the company, it must be requested by the director of the same, even if only in the capacity of manager and not a member. Having an EIN does not mean that your LLC can or should pay taxes in the future. Being an LLC held by a non-resident foreigner, if it does not physically operate in the USA and does not offer services to American residents and citizens, it operates in full privileged tax with zero taxes. EIN therefore does not mean that you will have to pay taxes in the USA but it obliges you to carry out an annual accounting of your LLC.
When you first receive an EIN, the IRS sends you an EIN Confirmation Letter (CP 575).
If you have your EIN number online ( you can get it if you have your ITIN , see below ) , you can download CP 575 online . If you received your EIN by mail or fax, the IRS will send you a CP 575 (it is mailed to the address you entered on 4a and 4b of Form SS-4; takes 4-6 weeks to arrive)
Some people lose their CP 575 EIN Confirmation Letter and need an official copy of their LLC's EIN number for things like opening a bank account at the LLC. The IRS issues the EIN Confirmation Letter (CP 575) only once. You cannot receive this letter again. Indeed, “CP” means that the letter was automatically generated by a computer. So even if you call the IRS, no one can recreate CP 575. However, there is good news. You can still get an official "EIN letter" from the IRS. It's just not called a confirmation letter EIN (CP 575). Instead, it's called an EIN Verification Letter (147C). CP 575 and 147C are technically different letters, however they are both official IRS letters and can be used for all business matters.
The only way to obtain an EIN Verification Letter (147C) is to call the IRS at 1-800-829-4933. For security reasons, the IRS will never send anything by email. Instead, the IRS will send you an EIN Verification Letter (147C) one of two ways:
- by mail
- by fax (you can use a real fax or a digital/online fax)
In addition to opening your LLC with EIN, you will probably be interested in creating a life insurance policy on your taxation, taking up a second tax residence, in a country with territorial taxation, such as a residence in Panama or a residence in Paraguay
Studio Panama Italia offers the possibility to manage EIN requests quickly.
ITIN, stands for Individual Taxpayer Identification Number
An ITIN, or Individual Tax Identification Number, is a tax processing number available only to certain nonresident and resident aliens, their spouses, and dependents who cannot obtain a Social Security Number (SSN). ITIN This is a 9-digit number, starting with the number "9", formatted as an SSN (NNN-NN-NNNN). The ITIN number is for non-residents who need to file a tax return due to taxable income (such as some scholarships) but are not eligible for a Social Security Number (SSN). The ITIN is not needed to accrue any credit score, as it is accrued with the default SSN that the American bank assigns to all non-residents to open an account 000-00-0000 – 100-00-0000.
Who needs an American ITIN?
An American ITIN is for those who need to: Open Paypal USA, Open Stripe, Amazon FBA. Your ITIN allows you to apply for mortgages, mortgages and loans from banks including commercial ones. It is required to rent properties and offices in the USA, finance a car or commercial vehicle and many other things.
However, it is possible to apply for an ITIN for any reason you see fit, so you can contact us about this and obtain your ITIN online without having to travel to the United States. Opening a paypal in a personal capacity but in the USA requires ITIN. But even opening a Stripe account often requires an ITIN.
Paypal Credit , provides after a certain use of the platform the possibility of obtaining credit from Paypal up to USD 500,000 if you have an ITIN.
Credit agencies don't use your ITIN as a credit identifier, but you may be able to use it to apply for a line of credit. In practice, credit card issuers allow you to apply for a credit card with your passport or other government-issued ID. In remote cases it might help you if you have an LLC and want a line of credit with the LLC, but the downside is that the LLC stops being anonymous to the government and IRS. For business owners who have incorporated or are planning to incorporate a US company, they should have their own US tax processing number issued by the Internal Revenue Service (IRS) for federal tax filing and tax compliance purposes. This is the EIN . Many prefer for local taxation or other personal reasons to obtain a US ITIN for Nonresidents. One of the types of numbers for US taxpayers and taxpayers that the IRS issues to individuals is the Individual Taxpayer Identification Number (ITIN).
An Individual Tax Identification Number (ITIN) is issued by the IRS to individuals who:
Do not have an SSN and are not eligible to obtain one, and
Are required to provide a Federal Taxpayer Identification Number (ITIN) or file a Federal Tax Return, and
Fall into one of the following categories:
Nonresident alien who is required to file a U.S. tax return through an ITIN
U.S. resident alien who (based on days of presence in the U.S.) files a U.S. tax return and applies for an ITIN
Dependent or spouse of a U.S. citizen/resident alien
Dependent or spouse of a nonresident alien visa holder
Nonresident alien claiming a tax treaty benefit, which is obtained through an ITIN
Nonresident alien student, professor, or researcher filing a U.S. tax return or claiming an exception
If you are one of the above cases we can then process the American ITIN number for Italians via IRS for you. Contact us and ask for our American ITIN certification service for Italians as soon as you can, because the requests that the IRS receives are so many and it can take up to 4 months to obtain it.
In all cases you want to obtain an ITIN, it would be necessary to validate your passport in the USA, physically. But we at Studio Panama Italia, through our local company registered as IRS Acceptance Agent, can validate your passport directly online and offer you the ITIN number directly online without traveling to the USA.
How do you get an American ITIN
To obtain an American ITIN you need:
Send us a color copy of your passport. Proof of tax residency of any country where you live (utility bill). Issue payment of USD 490
Wait about 3 months for receipt of the same via email and fax. Download and fill in the document below to request the American ITIN for Italians
Questions and answers about EIN and ITIN
What is an American EIN used for?
An American EIN is used to give the VAT number to your American LLC type company, and allows your American company to open physical and online bank accounts in the United States and to open business accounts with Corporate Wise, Stripe, Corporate Paypal (paypal now also requires personal ITIN)
How do I get an EIN for my LLC?
Get it online with Studiopanamaitalia.com. Contact us and request the VAT number for your American company online with us
What is an ITIN also called TIN for?
The American TIN serves a specific class of taxpayers, who are not residents of the States or who are subject to American scholarships and therefore cannot obtain an SSN. In practice it is a tax code to be obtained whenever an American SSN cannot be obtained.
The ITIN is also used to open personal accounts on Paypal USA, or to open Paypal Business accounts for your American LLC type company, as Paypal asks for both the Corporate EIN and the personal tax code of its beneficiary.
It could also be used to obtain a corporate credit and credits from paypal credit or amazon credit.
TIN allows you to defer payments on Klarna, Afterpay, Affirm, Scalapay.
What is Form W-7?
Form W-7 is the required IRS form when applying for your ITIN or US TIN. Don't worry, we will fill out the tax questionnaire for you when you purchase your ITIN with us
What is the US TIN?
The US TIN is the American ITIN. A form of shortening the name.
How do I get an ITIN ?
You may have wondered how to request a USA tin code. You can obtain your American ITIN Online with an official IRS Acceptance Agent in collaboration with Studiopanamaitalia.com, directly online by requesting it at info@studiopanamaitalia.com or via whatsapp at +1-786-6238177
