Identification

• In almost every circumstance where a business changes hands or the company reorganizes its ownership structure, a new EIN is required, according to the Internal Revenue Service. Certain exemptions exist, such as a corporation that changes to an S-corporation.
  
  

Misconceptions

• The IRS does not require a new EIN when you change the name of your business or its location, according to the IRS website. Also, you can use the same EIN if you own more than one business.
  
  

Tip

• You do not need a new EIN if at least 50 percent of the equity in a partnership changes hands during any 12-month period, according to the IRS. Also, you do not need a new one if the new owner purchases a Limited Liability Company taxed as a partnership under IRC section 708(b)(1)(B).