Q: Which is better to use for filing BOI report, EIN or SSN?
I have a single-member LLC registered under my name in state of Wyoming, but I reside in California. This LLC has never engaged in any business activity (no customers, no employees, no revenue, no taxes).
I am required to file a BOI (beneficial ownership information) report by the year-end (this LLC, although not active, is not exempt).
Is it better to file the BOI report using an EIN (I understand that EIN is not required to file a BOI report)?
Or should I file the BOI report using my SSN in this case?
Thanks
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A:
Using an EIN to file your BOI report is generally a better choice. It helps keep your personal Social Security Number separate from your business information, enhancing your privacy and security.
Additionally, having an EIN makes it easier to manage your LLC’s affairs in the future, even if it remains inactive. It provides a clear distinction between your personal and business finances, which can simplify any potential transactions or filings down the line.
Make sure all the information you provide is accurate and complies with California’s requirements. If you’re unsure, consulting with a legal professional can provide further guidance to ensure everything is filed correctly.
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