Employer Identification Number (EIN) Update Reminder
IRS is stepping up its outreach efforts to businesses, partnerships, trusts and estates, charities and other entities that are EIN holders. Starting this month, IRS will begin sending letters to approximately 100,000 EIN holders whose responsible party appears to be out of date.
EIN holders are required to update their responsible party information within 60 days of any change, by filing Form 8822-B, Change of Address or Responsible Party - Business
. If the responsible parties data for business-type entities is outdated or incorrect, IRS does not have accurate contact information in case of identity theft issues.
All EIN applications must disclose the name and Taxpayer Identification Number (Social Security number, Individual Taxpayer Identification Number or EIN) of the true principal officer, general partner, grantor, owner or trustor. The responsible party is defined as the individual or entity who "controls, manages, or directs the applicant entity and the disposition of its funds and assets." Read more here