Do I need an EIN for my LLC?

[Ryan Brubaker]

I have formed an LLC in Indiana to hold my investment properties. According to the checklist on the IRS website I do not need an EIN. Also, according to my bank website, when I go to set up my company bank account they will use my SSN if I don't have an EIN. But I'm wondering, should I go ahead and get an EIN for my company? Will it have benefits in the future for me to get it now? Or should I wait until I hire employees someday or fall into the situation where I need one?

Thanks,

Ryan

[Gord Stevenson]

The main objective in using an LLC is liability protection. That liability protection can be lost (search on "piercing the veil") if business matters that are supposed to be conducted under the LLC are mixed with personal business. The LLC should be filing income taxes and using its own bank account set up under the LLC's identity. Both need the LLC's EIN. It is not hard to get an EIN for the LLC.