Signing your club's application for a tax ID number.
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Signing your club's application for a tax ID number. Corey recently asked....
I am in the process of setting up a club. We are
organized and well on our way. We have a partnership agreement written up
that was recently signed by all partners. Our next step is to fill out the
tax id form.
My question is, do ALL of the partners name's need to be on the tax id form? Or should the officer's names and partnership name only be on it? No, according to the directions accompanying Federal Form SS-4 Application
for an EIN, the form must be signed only by a single "responsible and duly
authorized member or officer having knowledgeable of its affairs, if the
applicant is a partnership..." Clearly as a
founder of your club you would meet that criteria. If needed,
you can download/print a copy of the form directly from bivio at http://www.bivio.com/mr/irs/fss4.pdf
Also, we have members from different states. does
this have any impact on the way we apply for a tax id?
No. The club's tax ID (EIN) is not impacted
when you have club members in one or more state. Your club
should define within your partnership agreement which state the club
is being formed in. Normally this is the state in which most
or all of the members reside, but it doesn't have to be. Then check with
that state to see if investment clubs are required to register with the state
and what future tax returns, if any, your partnership will have to
file. For more information you might want to review another article
I wrote at http://www.bivio.com/trez_talk/mail-msg?t=344500003
Thanks for using bivio and best of success with your new club!
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