When a bank asks you to "prove your EIN," they want a document from the IRS, not a number you typed into a form. There are exactly two documents that do this: the CP 575 notice and the 147c letter. If you are a foreign owner who needs to open an account quickly, the 147c is the one you will actually have in hand.
What the 147c letter is
Form 147c, usually just called the 147c letter or EIN verification letter, is a letter the IRS issues to confirm an entity's Employer Identification Number. It is printed on IRS letterhead and shows:
- The EIN
- The legal name of the entity as recorded by the IRS
- The mailing address on file
- The date of the letter
The IRS does not send it automatically. It is issued on request, by an IRS agent, and sent by fax or mail. Because it can be faxed, it can be in your inbox within minutes of the request, while the mailed CP 575 takes weeks.
147c vs CP 575
| CP 575 | 147c | |
|---|---|---|
| What it is | Original EIN confirmation notice | EIN verification letter |
| When issued | Once, when the EIN is assigned | Any time on request |
| How delivered | Mail only, to the LLC address | Fax or mail |
| Time to receive (foreign LLC) | 3 to 4 weeks after assignment, sometimes longer | Same day by fax |
| Can be reissued | No | Yes |
| Accepted by banks | Yes | Yes |
Both documents carry the same legal weight. The 147c exists precisely because many businesses lose the CP 575 or never receive it. Banks see 147c letters every day.
Where the 147c is accepted
- US banks and credit unions when opening a business account
- Fintech business accounts such as Mercury, Relay, Brex, and Wise Business
- Payment processors: Stripe, PayPal, Square, Shopify Payments
- Marketplaces: Amazon, Etsy, eBay, Walmart Marketplace
- Payroll and HR providers
- State agencies for sales tax registration
- Your accountant, for filing Form 5472 and other returns
If a counterparty insists on the CP 575 specifically, ask them to accept the 147c; almost all compliance teams do, because the IRS states that the 147c is the official replacement document.
How SwiftEIN delivers it
We file your EIN application with the IRS as your third party designee. The EIN is assigned by the IRS to your LLC, exactly as if you had filed yourself; we do not issue numbers and there is no such thing as a "private" EIN. When the number is assigned, we obtain the 147c letter by fax and email you the scan. That scan is what you forward to the bank. You do not need to wait for the CP 575, which the IRS mails to the LLC address separately. Keep both for your records once the CP 575 arrives.
What to check when you receive it
- The LLC name matches your formation documents exactly
- The address is the one you want on file (it can be changed later with Form 8822-B)
- The EIN is nine digits in the format XX-XXXXXXX
Save the file somewhere safe and make a copy. You will be asked for it repeatedly in the first year of the business.