Q:

What is IRS Form CP 575?

A:

Quick Answer

IRS form CP 575 is generated as confirmation that a legal entity has been granted an employer identification number, or EIN. This number permits the entities to which they are assigned to engage in a number of business-related activities such as filing claims for payment, according to the Centers for Medicare and Medicaid Services (CMS). The CMS notes that Medicare suppliers may require an EIN for verification purposes.

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Full Answer

Form CP 575 is issued by the IRS as a way of identifying and tracking various entities. Organized entities that are entitled to receive an EIN include sole proprietorships, corporations, partnerships, non-profit organizations and other employers. Other entities that can be assigned EINs under the IRS' bulk/bank program include bankruptcy estates, retirement trusts and Real Estate Mortgage Investment Conduits, as explained by the IRS's online handbook.

According to the IRS, there are ten different versions of form CP 575, identified by the letters A through J. Each is used to assign an EIN under slightly varying circumstances. The specific form issued in each case is determined by the number of names on the form, whether or not a foreign address is listed for the entity's premises, the owners' residences of record, and other factors.

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