Calling it a key security issue, the IRS is urging entities with employer identification numbers (EINs) to update their applications if there are changes for the responsible party or contact information.
IRS regulations require EIN holders to update responsible party information within 60 days of any change by filing Form 8822-B, Change of Address or Responsible Party - Business. The IRS needs to the most accurate information to investigate cases of identity theft and other fraud issues related to EINs or business accounts.
Entities with EINs that are no longer in use should close their IRS tax accounts and cancel their numbers, the IRS states.