Transfer EIN

[Jill Graff]

Problem: Client was going to set up a partnership this past January. He got an EIN and openned a bank account using the EIN. The other "partner" never came on board, but my client operated the business all year.

Question: Since no reports have been filed with any governmental agencies besides the SS-4, can I just put the business on his Sch C and move on down the road, or do I need to file a 1065 and have him apply for another EIN, and open another bank account?
Thanks!

[fliszt]

I just took a quick look at

the instructions for filling out a new SS4 and one of the options was to fill out lines 1 thru 16a if you are changing type of organization. (ei: partnership to sole proprietor) So it appears as you will need to do that. I have several clients with an EIN and file a sched C for them. Sometimes they have employees (which requires an EIN) and sometimes none.
Hope this helps.
Larry M.