Yes, it is best to have an EIN/TIN for real estate primarily because more and more utility companies require it for services, local governments need them for privilege tax, occupational licenses for rentals, use and occupancy licenses, water and sewer, etc. This has been getting worse and worse in the last decade.

We would use the CamaPlan companies TIN years ago but then it started to create problems. Example: A client would not pay a water bill and another client would be harassed when buying a property or selling property because of another clients’ outstanding balance.

In addition, if you ever get a non recourse loan you will also need the TIN for reporting on 990T IRS form.

I also believe it better protects your FDIC insurance by not confusing it with your social security number.

When applying for the number make sure the IRS is not expecting an IRA tax return.

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