Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.
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?
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.).