Question: Transfer of money when changing EIN #

Our PTO is applying for a new EIN# and incorporating this time around (our old EIN # fell out of the system). Can the bank simply update the EIN # on our checking account or will this cause huge problems?

Asked by Anonymous



Advice from PTO Today

Craig writes:
It's a matter of bank policy. Check with your bank to see whether they will do that. If so, that's probably the best and easiest solution for your group.

Community Advice

gjcoram writes:
We updated our EIN with our bank, no problem. (The IRS had no record that our old EIN had been issued ...)

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