The IRS issued final regulations which require any person assigned an employer identification number (EIN) to provide updated information to the IRS. The regulations are effective January 1, 2014 and are intended to enhance the IRS’ ability to keep accurate information on individuals issued EINs.
EINs are issued for tax filing and other government reporting purposes. Individuals and businesses apply for an EIN using Form SS-4, Application for Employer Identification Number.
The new regulations provide that anyone who has an EIN must provide updated information to the IRS “in the manner and frequency prescribed by forms, instructions, or other appropriate guidance.” It is anticipated that the IRS will publish a form for persons issued an EIN to use to disclose updated application information in the coming months.
