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2 Replies Last post: Aug 7, 2009 2:48 PM by ingridtx

My bank wants me to have 2 EIN numbers, is there a solution?

Aug 6, 2009 7:05 PM

Click to view ingridtx's profile Start-up ingridtx 2 posts since
Aug 6, 2009
I used to have 2 sole proprietorship businesses, and a bank account for each. I just recently filed a C Corporation under a separate name. The IRS told me that I can have more than one trade names under this corporation and that I can file both companies, separately, on the tax return of the coroporation.

My bank, however, says that they cannot have the same EIN number on both bank acconts, and they can't use my social security number as a tax ID number. Is there a solution? I really don't need another corporation.
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Click to view SASI360's profile Professional SASI360 5 posts since
Aug 7, 2009
1. Re: My bank wants me to have 2 EIN numbers, is there a solution? Aug 7, 2009 9:16 AM

You misunderstood. You need a FEIN for each company you incorporate. When you apply for the FEIN, you can specify a legal name and a trade name different from the legal name. However, you cannot have more than one trade name associated with the FEIN.
Click to view ingridtx's profile Start-up ingridtx 2 posts since
Aug 6, 2009
2. Re: My bank wants me to have 2 EIN numbers, is there a solution? Aug 7, 2009 2:48 PM
in response to: SASI360
Yes, i understand that I can only have one FEIN associated with the corporation, but the IRS told me that I can have more than one trade name under the corporation, which is what I'm trying to do with the bank, set up two accounts under these trade names. So, for banking purposes, is the only solution to have a separate corporation? Can't by bank records show my social security number under the second trade name?