FedEx Corporation, a globally recognized courier company, is known for its overnight shipping service and pioneering a system that could track packages and provide real-time updates on package location. However, there’s more to FedEx than just package delivery services. In terms of its identity as a business entity, FedEx, like all other businesses operating in the United States, has a unique identifier known as the Employer Identification Number (EIN).
The Employer Identification Number (EIN) for FedEx Corporation, a globally recognized courier company, is 62-1721435. This unique nine-digit number is assigned by the Internal Revenue Service (IRS) and is used for identification purposes in various business activities, such as tax filings and financial transactions.
Understanding the EIN
The Employer Identification Number (EIN) is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States for identification purposes. Similar to how an individual’s Social Security Number (SSN) identifies them for tax purposes, an EIN identifies a business entity.
The EIN is used for various activities, such as filing tax returns, opening business bank accounts, applying for business licenses and permits, hiring employees, and conducting other financial transactions. Businesses that need an EIN include those with employees, partnerships, corporations, and those that file excise taxes or withhold taxes for non-wage income paid to a nonresident alien. Sole proprietorships with employees or single-member Limited Liability Companies (LLCs) also require an EIN.
FedEx’s EIN
FedEx Corporation’s Employer Identification Number (EIN) is 62-1721435. This number is unique to FedEx and identifies it as a business entity in the eyes of the IRS.
Uses of FedEx’s EIN
There are several reasons someone might need FedEx’s EIN. One common reason is for customs purposes. U.S. Customs and Border Protection (CBP) require the Ultimate Consignee ID number (which can be an EIN or SSN) for all formal entries at the time of entry or release. This information is necessary for customs clearance when importing goods into the United States.
Another reason someone might need FedEx’s EIN is for tax-related purposes. For instance, if a business is working with FedEx and needs to report payments made to FedEx on their tax filings, they would need FedEx’s EIN to complete the required forms.
Risks of Misusing an EIN
Misuse of an EIN, whether it’s FedEx’s or another company’s, can lead to several potential risks and consequences, including corporate identity theft, illegal employee use, financial fraud, tax-related identity theft, and reputational damage. To mitigate these risks, it is essential to keep your EIN and other sensitive business information secure, educate your staff on best cybersecurity practices, and monitor your business’s financial and tax records for any signs of unauthorized activity.
Verifying FedEx’s EIN
To verify the legitimacy of FedEx’s EIN number, you can try contacting the IRS directly. You can reach out to the Business and Specialty Tax line by calling 800-829-4933. The department is open Monday through Friday between 7:00 am and 7:00 pm local time. Keep in mind that the IRS may have limitations on disclosing EIN information to third parties, so you might need to provide a valid reason for your inquiry.
In conclusion, FedEx’s EIN number is a crucial aspect of its identity as a business entity. Whether you’re dealing with customs, tax filings, or other business transactions involving FedEx, understanding and correctly using this unique identifier is essential.
Frequently Asked Questions
What is the full form of EIN?
EIN stands for Employer Identification Number.
Can an individual have an EIN?
Yes, an individual who owns a business can obtain an EIN for their business, even if they are the sole employee.
Is an EIN the same as a tax ID number?
Yes, EIN is often referred to as a Tax ID number when used for identification of a business for tax purposes.
Is it legal to share a company’s EIN?
Yes, sharing a company’s EIN is legal as it is often required for various business transactions. However, it should be done responsibly to avoid potential misuse.
Can an EIN be changed?
Yes, a company can change its EIN if the ownership or structure of the business changes.
