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Paypal Limited - EIN Request | How to register a business?

Discussion in 'Ebay' started by jhillman87, May 28, 2014.

  1. jhillman87

    jhillman87 Registered Member

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    So, my paypal received a "limitation" about a month ago for hitting 200+ transactions & $2000+ revenue (which averaged over 12 months would break the 20k barrier).

    Since then, I have been receiving/withdrawing without issues, so I guess the "limitation" is rather superficial - At least until you ACTUALLY hit 20k, is that correct?
    I got another email last night saying my paypal was limited until I added on an SSN/EIN, but unsure if this is just a standard email reminder or it's "actually" limited now. Will have to try to sell some stuff to see I guess?

    Anyway, I decided I want to apply for an EIN to tack onto this one particular stealth account I have, because it is my "white hat" account.
    It just reached Top Rated Seller status, and has 100% feedback, so i figured why let it go to waste.

    Both the EB and PP accounts are registered as business accounts, so all I'd need to do is apply for an EIN under the "fake" business name, right?
    Is this hard to do?

    Would I apply as a sole proprietor or an LLC?

    Also for those who've done this before, what kind of costs am i looking at overall?

    Thanks