How to Get an EIN for Your SPV (LP Structure)

How to Get an EIN for Your SPV (LP Structure)

Welcome to All Things SPVs, your go-to educational series from Sally. In this article, we're walking through the step-by-step process to apply for an Employer Identification Number (EIN) from the IRS for your SPV, whether it's a LLC or a LP.

This guide focuses on Limited Partnership (LP) SPVs, but the steps for a Series LLC/LP or standard LLC are nearly identical—with just a few form selection differences.

Let’s walk through the process so you can get your EIN and move forward with banking, and investor onboarding.

⚠️ Note: This guide is for educational purposes only and does not constitute legal advice. We recommend speaking with a qualified attorney before proceeding.

🚀 Getting Started: The IRS EIN Application

Start by heading to the IRS EIN Assistant. This tool is free, online, and available Monday–Friday during IRS business hours (typically 7am–10pm EST).

You must complete the application in one sitting, so be prepared with:

• Your SPV’s legal name and physical address
  
  
• The responsible party’s name and SSN/ITIN, and
• Your formation documents
  
  

Step-by-Step EIN Application for an LP SPV

Let’s walk through the application for a Limited Partnership (LP) SPV.

✅ Step 1: Select Entity Type

• Click on the “Apply for an EIN” button
  
  
• Click on the “Begin Application” button
  
  
• Choose "Partnership" as your entity type
  
  
• On the next screen: Select "Partnership" (not Joint Venture) again
  
  
• Click Continue through the information summary screen
  
  

✅ Step 2: Why is the LLC requesting an EIN?

• Select "Started a new business"
  
  
• Click Continue to move to the next section
  
  

Step 3: Responsible Party

This is the individual who is forming and managing the SPV. This person must have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).

You’ll enter:

• Full legal name
  
  
• SSN or ITIN
  
  

Then select:

• “I am the responsible party” if you're the organizer
  
  
• Only select "Third Party Designee" if a law firm or external service is completing the application for you
  
  

Step 4: Business Address

You’ll need to enter the physical address and phone number of your SPV.

🔒 No PO boxes allowed.

This should be the location where your SPV is operating or managed from. A separate mailing address is optional and can be added after this step.

Step 5: Details About the LP SPV

• Legal Name: Use the exact name listed in your SPV formation documents
  
  
  ✅ Double and triple check this!
  
  
  
• Trade Name (DBA): Skip this section for SPVs
  
  
• County and State: These fields are auto-filled based on your earlier entries
  
  
• Partnership Start Date: Use the month and year of when your SPV was officially formed
  
  
• Accounting Closing Month: Choose the month your books will close—December is standard
  
  

Step 6: Additional Questions

You’ll be asked a series of yes/no questions. For SPVs, the answers are typically:

• Does your business own a highway motor vehicle? → No
  
  
• Does your business involve gambling/wagering? → No
  
  
• Does your business need to file Form 720? → No
  
  
• Does your business sell or manufacture alcohol, tobacco, or firearms? → No
  
  
• Do you have or expect to have employees? → No

Step 7: Business Activity

When prompted to select a business category:

• Choose “Other”
  
  
• Choose “Other” again
• In the description field, type:
  “Any legal purpose”
  
  
• Continue to the next section
  
  

Step 8: EIN Confirmation Letter Delivery

You’ll be given two delivery options for your EIN confirmation letter:

• Receive Letter Online (PDF) – Highly Recommended
  
  
  
  • You’ll get the letter instantly, but you must download it immediately
    
    
• Mail it to me – Takes several weeks
  
  

⚠️ If you forget to download the letter, you’ll need to call the IRS to have it mailed you the confirmation letter.

Step 9: Review and Submit

You’ll be shown a summary of all the information you’ve entered. Carefully review:

• The legal name (triple check this!)
  
  
• Address and responsible party details
  
  

Once confirmed, click Submit.

🎉 The IRS will immediately issue your EIN and show a PDF confirmation letter.
Make sure to download and save this letter—it’s needed for:

• Opening a bank account
  
  
• Filing taxes
  
  
• Investor documentation
  
  

You Did It!

You now have an EIN for your LP SPV. The process is nearly identical for LLC SPVs—just be sure to select the right entity type at the start.

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