A Tax Identification (Tax ID) Number (TIN) is a unique identifier assigned by the IRS to individuals and businesses. TINs are composed of nine digits and are used to identify taxpayers.
Types of TIN:
Below are the most popular types of taxpayer identification numbers available for individuals, businesses, and tax preparers in the United States and Canada.
🇺🇸 United States:
- Social Security Number (SSN)
- Employer Identification Number (EIN)
- Individual Taxpayer Identification Number (ITIN)
🇨🇦 Canada:
- Social Insurance Number(SIN)
- Business Number(BN)
| Taxpayer Identification Number | Abbreviation | Country | Who Needs It? |
|---|---|---|---|
| Social Security Number | SSN | 🇺🇸 USA | Individuals, sole proprietors, and single-member LLCs |
| Employer Identification Number | EIN | 🇺🇸 USA | Employers, corporations, partnerships, and multi-member LLCs |
| Individual Taxpayer Identification Number | ITIN | 🇺🇸 USA | Nonresident and resident aliens, their spouses, and dependents who cannot get an SSN |
| Social Insurance Number) | SIN | 🇨🇦 CA | Individuals, sole proprietors, and single-member LLCs |
| Business Number | BN | 🇨🇦 CA | Employers, corporations, partnerships, and multi-member LLCs |
Social Security Number (SSN)
The Social Security number (SSN) is the most commonly used tax identification number in the United States. It is issued by the Social Security Administration to U.S. citizens, permanent residents, and certain temporary residents. The SSN is a nine-digit number formatted as:
SSN: XXX-XX-XXXX
Employer Identification Number (EIN)
The IRS utilizes the Employer Identification Number (EIN) to identify corporations, trusts, and estates that have tax obligations. Similar to Social Security Numbers, employer tax ID numbers consist of nine digits, but they are read as:
EIN: XX-XXXXXXX
Individual Taxpayer Identification Number (ITIN)
The Individual Taxpayer Identification Number (ITIN) is issued by the IRS to certain nonresident and resident aliens, as well as their spouses and dependents, who are not eligible for Social Security Numbers. ITINs are formatted in the same way as SSNs (XXX-XX-XXXX) and always begin with the number 9:
ITIN: 9XX-XX-XXXX
Social Insurance Number (SIN)
The Social Insurance Number (SIN) is the tax identification number used by individuals in Canada. It is issued to Canadian citizens by Service Canada. The SIN is a 9-digit number that is formatted as:
SIN: XXX-XXX-XXX
Business Number
The Business Number is a Unique identification number given to Canadian businesses, legal entities, and non-profit organizations. It consists of nine unique numbers assigned by the Canada Revenue Agency (CRA) for tax purposes.
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FAQs
🙋 Is a TIN the Same As a Tax Identification Number?
Yes! A TIN is simply an abbreviation for "tax identification number" or "Taxpayer identification number." So, when you see TIN, just know that it refers to the same thing as a tax ID.
🙋 Is a TIN the Same As a Tax Identification Number?
A Social Security number is a type of TIN that is widely used in the United States. It serves multiple purposes such as enabling individuals to apply for employment and secure credit from banks and other lenders. Additionally, you can use your SSN to file your annual tax returns with the IRS.
🙋 How do I find my TIN online?
Contact the issuing agency to obtain your TIN if you cannot remember or have lost the official document. You can't go online to retrieve it because it's a sensitive piece of information.