Requirements for escrow accounts for Security Deposits vary by state. Usually they are sub accounts to the one rental business.
In which state are the rentals located?
Does the state require the separate EIN for the security deposit accounts or is that just to open a new business account with the bank?
If the latter, I suggest you simply open sub accounts for the other monies.
If you have EIN for the other accounts, you would need to file for the businesses you attached to those EIN's.
You would be following the rule of not co-mingling, however technically the Security Deposits are being help by a different entity. That might not be allowed.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
