What is an RFI?
In cases where Paid isn’t able to verify an aspect of the business, we’ll reach out to request additional information about the employer (RFI). We’ll specify what we need in order to verify our compliance gap. Typically, an employer will need to provide an IRS CP-575 Letter or 147-C Letter.
If the employer is a Sole Proprietor, a KYC (Know Your Customer) will be required, rather than a KYB (Know Your Business), to verify the identity of the Sole Proprietor.
What is a CP-575 Letter?
Form CP-575 is an IRS-issued notice confirming that you have been granted an EIN. The CP-575 letter includes important tax information about your business including your:
- EIN, a nine-digit number used for filing your federal payroll taxes
- Business nameThe business’s official filing address
- Federal tax forms your company is required to file (such as the 1120s)
Example CP 575 Letter:
What if I cannot find my CP-575 Letter?
If you’ve lost your EIN Confirmation Notice (CP-575), follow the instructions below to request an EIN Verification Letter (147C) from the IRS to provide us instead.
- Call 1-800-829-4933 at the IRS Business and Specialty Tax line.
- The best call times are 7am - 10am and 3pm - 7pm, between Tuesday - Friday.
- Press 1
- Press 1
- Press 3
- Tell the IRS agent that you lost your CP-575 and need an EIN Verification Letter (147C).
- The agent will ask you a few security questions.
- The agent will ask if you want to receive your 147C by secure fax or mail.
- You’ll receive it instantly if you ask for it by fax and answer YES when the agents asks “Do you have a private and secure fax next to you?.”
- You’ll receive it in 4-6 weeks if you ask for it by fax and answer NO when the agents asks you “Do you have a private and secure fax next to you?.”
- You’ll receive it in 4-6 weeks if you ask for it by mail.
Example Letter 147C:
What if I do not have a fax machine/number?
You can use sites such as efax.com or hellofax.com to obtain a fax number.
Comments
0 comments
Please sign in to leave a comment.