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what is an ein and when do you need it hi im julie merrill im a cpa and startup company consultant all right lets talk about ions what is an iron so an i e i n stands for for employer identification number all right and it is something that is issued by the irs now when do you need it so companies typically need an ein with the exception of two situations okay so if you are a company with employees if youre a corporation if youre an llc if you have multiple members youre all going to need an ein and it is something that is just a simple form that you fill out on the irs website theres a link below it takes five minutes dont pay somebody to do this for you it is so simple and quick you literally click submit and it prints out a pdf for you right away that gives you your employer identification number on the spot or you can have a mail you an official letter and it will arrive in four weeks so really simple easy to do but know that theres a couple things first you need to know b