Employer ID Number asking for Social Secuirty Number - Safe Haven?

[Anonymous]

I am planning to apply and retrieve a Tax ID Number, or what is most commonly known a Employer ID Number through the IRS. I am doing this solely for my start up business, and the EIN is a main factor in pertaining licenses, accounts, and vendor merchant accounts. What concerns me the most in finishing the application is that they are asking for my social security number? Is it safe to provide my SS# over the internet especially and to include it into the application. It also shows that it is a requirement. Will this also affect my FICO score in any negative way or possibly positive way?

Thanks again!

[llecs]

An EIN is necessary if you plan to hire anyone or, in terms of credit, want to app for anything based on your own biz credit. You'd use an EIN and not a SSN if a PG isn't required on the app. IRS' application does require you put in your SSN or ITIN. If you apply for the EIN on the irs.gov website, then you're OK. They won't hit your credit and want to link up your business with your name for tax purposes. Your score won't be impacted.

As your build your business, your business credit generally won't report to your personal credit report and thus your scores not impacted. However some TLs do report to both. Check over in the biz credit section of this forum for TLs that do and don't report to both.

[Anonymous]

As I am still new to some terms on this board, what is a "TL"?

[llecs]

Common Abbreviations

TL = tradeline (e.g. CC, loan, etc.)