Principals

Principals are the individuals within your firm held legally responsible by the IRS for the activities of the firm.

Note: Principals are not required for Not for Profit applications and those that select the provider option of Large Taxpayer and/or ACA ‘Covered Entity’ only.

• In a corporation, Principals should include the President, Vice-President, Secretary, and Treasurer
• In a partnership, Principals should include any Partner who owns at least 5% of the firm
• In a sole proprietorship, the Principal is the proprietor

The Principals page prompts you to identify the Principals in your firm.

If the Principal is also a Responsible Official, check the box next to the statement ‘Add this person as a Responsible Official’. If the Principal is also the Primary Contact, check the box next to the statement ‘Add this person as a Primary Contact’.

Click ‘SAVE’ after all information has been entered.

You can add multiple Principals for your firm by selecting the ‘SAVE’ button, then completing the identification information for a new Principal.