US EIN (Employer Identification Number) - What is it & how to get it?

If you are incorporating a company in the US (and you can do so from anywhere in the world, without being physically present in the US) you will probably need an Employer Identification Number (EIN). EIN is essential if you want to issue checks or open a bank account. The best part of the EIN number is that it's completely free and you can get it within 45 minutes from the American Government's IRS.

Following video from eLagaan explains the concept and how to get EIN: