How to Get an EIN for Your Marketplace Business in Illinois (2026)

Starting a marketplace business in Illinois? You'll likely need an Employer Identification Number (EIN) from the IRS. This guide will walk you through the process of obtaining an EIN for your marketplace business in Illinois in 2026. Lovie can automate this entire process for you, ensuring accuracy and saving you valuable time.

What is an EIN?

An Employer Identification Number (EIN) is a unique nine-digit number assigned by the IRS to business entities operating in the United States. It's essentially a Social Security number for your business, used to identify it for tax purposes. Even if you don't plan to hire employees immediately, an EIN is often required for opening a business bank account, filing taxes, and establishing credibility for your Illinois marketplace.

How to Apply for an EIN

  1. Determine Your Eligibility: Ensure your marketplace business entity is eligible for an EIN. Generally, LLCs, corporations, partnerships, and other business structures operating in Illinois qualify. Sole proprietorships may also need one if they hire employees or operate as a corporation or LLC.
  2. Choose Your Responsible Party: Designate a 'responsible party' – the individual who controls, manages, or directs the entity and the disposition of its funds and assets. This person must have a valid Taxpayer Identification Number (SSN or ITIN).
  3. Complete the Online Application (Form SS-4): Access the IRS website and complete the online EIN application (Form SS-4). The application requires information about your marketplace business, such as its legal name, address, type of entity, and reason for applying.
  4. Submit the Application: Once you've completed the Form SS-4, submit it electronically through the IRS website. The online application is the fastest and most efficient way to obtain an EIN.
  5. Receive Your EIN: Upon successful submission, you will receive your EIN immediately online. You can download, save, and print the EIN confirmation notice (CP 575).
  6. Verify EIN with the IRS: After receiving your EIN, verify its accuracy with the IRS. This can be done by calling the IRS Business & Specialty Tax Line. This step ensures that your marketplace business information is correctly recorded in the IRS system.

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