How to Register Your New Business Vehicle in the Company’s Name

How to Register Your New Business Vehicle in the Company NameAre you registering and insuring a vehicle under your company name for the first time? Then, you’ll need to request Form 147c from the Internal Revenue Service (IRS) and follow the procedure for registering with the FID Department at the Registry of Motor Vehicles (RMV).

Currently the IRS doesn’t have an online solution for Form 147c. This is to prevent unauthorized access to taxpayer information found on the form itself. To register your company vehicle, follow these three steps:

  1. First, you’ll need to contact the IRS by calling 1-800-829-4933 between the hours of 7:00 am and 10:00 pm to request Form 147c through the mail or by fax. Requesting this form by fax will be a quicker process and can help you discover how the IRS is listing your business.
  2. Once you receive Form 147c, you’ll need to contact the MassDOT FID Department by calling 857-368-8055. Let them know that they will need to process a new registration and then fax the form to 857-368-0822.
  3. Once it’s been confirmed by the FID Department that the information has been accepted, you can register and insure the vehicle in the company name.

In addition to being part of the registration process for a new business vehicle, Form 147c helps ensure that the company’s Employer Identification Number (EIN) and the Taxpayer Identification Number (TIN) match up exactly with the name of the business entity. Even the slightest difference, such as spacing or use of the “&” symbol in place of the word “and,” can create issues. If this information is incorrect, the IRS can compel your processor or merchant services provider to withhold 28 percent of the revenue coming out of your credit card machine.

For more information on registering and insuring your commercial vehicles, contact McGrath Insurance Group at 508-347-6850 or marketing@mcgrathinsurance.com.

*This article is written for informational purposes only and should not be construed as providing legal advice.