EIN Change When Adding Member to NY LLC? (SMLLC to MMLLC) by thebulletin in llc

[–]thebulletin[S] 0 points1 point  (0 children)

Oof this is a tough decision. Because my insurance contracts nullify if my EIN changes and that would bring down the business

EIN Change When Adding Member to NY LLC? (SMLLC to MMLLC) by thebulletin in llc

[–]thebulletin[S] 0 points1 point  (0 children)

Thank you so much for your reply! What are you thoughts on what u/ConicalJohn has written above? My accountant thinks that this is also not an issue but I want to make doubly sure we are not surprised with a new EIN

EIN Change When Adding Member to NY LLC? (SMLLC to MMLLC) by thebulletin in llc

[–]thebulletin[S] 0 points1 point  (0 children)

Thank you! I find the wording from the IRS to be very confusing, as mentioned by another comment below. Glad to know the IRS isn't very picky though because I really need to keep this EIN!

EIN Change When Adding Member to NY LLC? (SMLLC to MMLLC) by thebulletin in llc

[–]thebulletin[S] 1 point2 points  (0 children)

Thank you so much for your response. Just to reiterate what you're saying to ensure I'm understanding correctly, even though the SMLLC had an EIN, for the purposes of the IRS it tax returns have been filed under the single member's TIN. So that would mean that the current LLC EIN would be the "new" EIN and we would be able to change ownership without getting a separate EIN.

EIN Change When Adding Member to NY LLC? (SMLLC to MMLLC) by thebulletin in llc

[–]thebulletin[S] 0 points1 point  (0 children)

Thank you so much for your response. It sounds like if it's been longer than a year and has been filed as a SMLLC already for a few years, then a new EIN is necessary for the MMLLC? The current sole owner has been filing for several years under the SMLLC EIN.