Protecting your e-commerce business from claims is essential to its success. Many Amazon sellers acquire insurance to protect against a plethora of risks.
LONG BEACH, NEW YORK, UNITED STATES, March 30, 2021 /EINPresswire.com/ — Amazon Sellers Need a US Employer Identification Number to Obtain Insurance
Protecting your e-commerce business from claims is es-sential to its success. For this reason, many Amazon sellers acquire insurance to protect against a plethora of risks including intellectual property infringement and breach of contract lawsuits.
As many insurance companies now require a United States Employer Identification Number (EIN) and mailing address, foreign based Amazon sellers are facing roadblocks to protect themselves from these kinds of risks.
“All e-commerce businesses should have insurance,” said David Miller, Esq., managing attor-ney of the firm’s business law department. “If you do not have an EIN and are having a difficult time obtaining insurance, get an EIN as soon as possible.”
An EIN is also known as a federal tax identification number which is used to identify a business entity and may be required for opening a business bank account, paying employees or pur-chasing insurance coverage. While the process for non-U.S. citizens is a bit different than for U.S. citizens, non-U.S. citizens can also acquire EINs.
A common misconception is that one must have a Social Security Number to get a business EIN but non-U.S. citizens can still obtain an EIN even if they do not have a Social Security Number.
Many Amazon sellers get insurance because it can provide protection in the event of a claim and peace of mind to the insured. “Even if the motivation to start selling products on Amazon is for fun and not to replace full-time income, who is to say sales couldn’t grow exponentially, or an unfortunate situation arises that could turn a side business into a liability,” said CJ Rosen-baum, Esq., founding partner of the firm.”
Amazon or other e-commerce business owners looking to learn more can access the firm’s Business Law Library or visit its dedicated Business Law YouTube page.
About Rosenbaum Famularo, P.C.
Rosenbaum Famularo, P.C., is a law firm based in Long Beach, New York, dedicated to serving sellers, either individuals or companies, on Amazon.com and other Amazon websites around the world. The firm has staff in New York, Shenzhen, China and Yiwu, China. Interested sellers can contact the firm at AmazonSellersLawyer.com.
Rosenbaum Famularo & Segall, P.C.