EIN Letter
EIN letter (CP-575) is the IRS-issued document confirming the merchant's Employer Identification Number — establishing formal business existence and IRS registration for MCA underwriting and contract preparation.
Why This Matters
EIN letter purposes: confirms business legal existence (informal businesses without EIN typically can't qualify for MCA), verifies legal business name (matching submission information to IRS records), establishes contracting party (MCA contracts require accurate legal entity name), and supports fraud screening (matching EIN to claimed business). Many merchants lose original EIN letters; alternatives include IRS Form 147c (re-issued EIN confirmation) or recent business tax returns showing EIN. Some funders accept IRS account transcripts as EIN verification.
Frequently Asked Questions
Frequently Asked Questions
What if the merchant lost their EIN letter?
Request IRS Form 147c by calling IRS Business Specialty line (800-829-4933). Available within 1-2 weeks. Alternatively, recent tax returns or any IRS correspondence containing EIN typically accepted.
Do sole proprietors without EINs qualify for MCA?
Most funders require EIN even for sole proprietors. Sole props operating under SSN only typically don't meet underwriting standards. EIN registration is free and immediate through IRS website.