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ROBS 401K Business Financing FAQ: Will my ROBS Business take over the EIN of the business I am buying?
I am using ROBS 401K Business Financing to fund the asset purchase of a business from an unrelated person. Will my new C-Corporation take over the EIN of the existing target?
RESPONSE:
The EIN of the seller is tied to the entity and is not included with the assets that are acquired as part of the sale. Practically, speaking when a business buys another business the EIN of the new business needs to be updated throughout the business operations (e.g. new bank account, new merchant account, etc.).
