What is an EIN?

An EIN is a 9-digit number the IRS gives your business for tax purposes. You use it to file taxes, report income, and handle anything tax-related.

Most businesses need an EIN to apply for a Novo account:
Corporations (S corps and C corps)
Partnerships
Multi-member LLCs
Sole proprietorships
Any business with employees

The only exception is a single-member LLC with no employees that’s taxed as a disregarded entity.

You can apply for an EIN for free on the IRS website.