147c Letter

What is a 147c Letter?

A 147c letter is an IRS document used to verify a company’s EIN (Employer’s Identification Number). It is also commonly known as an EIN confirmation letter.

A 147c Letter is an official document from the Internal Revenue Service (IRS) that confirms a business’s EIN. Similar to a person’s Social Security Number, the EIN acts as a unique identifier for business organizations, aiding in verifying their legitimacy and standing to third parties.

Here is what it looks like:

Let’s explore its importance in the next section.

When might you need a 147c Letter?

147c Letter plays a crucial role in the following situations:

• When small business owners are opening a new bank account.
• While applying for loans for small or mid-sized businesses.
• To request a business credit card.
• When e-filing income tax returns.
• When financial institutions need to verify the legitimacy of a business.

Now that we understand the need for this letter in daily business operations, let’s examine the process to obtain it in the next section.

How do you get a 147c letter?

The most efficient way to request a 147C Letter is by calling the IRS. You can choose to receive the 147c Letter by mail or fax. Let’s explore the option below.

To request by phone:

• Dial 1-800-829-4933
• Press “1” for English.
• Press “1” again to gather EIN-related information.
• Press “3” to select: “You have an EIN but need a confirmation letter.”
• Be prepared to provide your EIN, name and address used on forms such as the 941, W-2, or 1099.
• Answer the security questions to verify your identity.

How can I get my EIN?

• You can just dial your bank and request it. Some other common documents with your EIN are:
• Tax returns filed by your business.
• Loan application forms.
• Bank account or credit card application forms.
• Licensing paperwork filed with government agencies.

In the next section, let’s discuss the key information included in a 147c Letter.

What information is included in a 147c letter?

A 147c Letter typically comprises the following information:

• The business entity’s legal name.
• The official address of the business entity.
• The IRS assigned nine-digit EIN.

Steps to obtain other essential forms – such as visiting the IRS website.

This explains the key constituents of a 147c letter:

But what do you do if your 147c letter has certain errors? Let’s discuss it below.

What should you do if there’s an error in the 147c Letter?

If you receive a 147C Letter with incorrect information, don’t worry – it’s easy to correct.

After receiving the 147c letter, clearly verify all the details in the letter. If you encounter any errors or discrepancies, address them promptly by contacting the IRS. Provide a clear explanation and support your argument with correct documents.

Here is a step-by-step guide to help you out:

• Review the error: Carefully review and understand the specific error. It might be an incorrect business name, EIN, or address.
• Contact the IRS: Reach out to the IRS helpline at 1-800-829-4933. Provide all the relevant details about the error and documents to support your claim.
• Verify information: During the call, promptly verify all the essential information, such as the EIN and business name.
• Request a corrected 147c letter: Request the IRS representative to issue a corrected 147c letter with accurate information.
• Update your records: After receiving the corrected 147c letter, update your business records and share the relevant information with all the concerned parties.

Thus, the 147c Letter is a crucial document for US businesses. It helps verify EINs and ensures the accuracy of business records with the IRS.