ITIN - Needed in this situation?

My company secured a contract to do work in the US. A requirement of contract signing was that certain insurance provisions apply to the company. Our Canadian insurance broker was unable to insure our activities in the US so we incorporated a company in the US and applied appropriate insurance to it. We don’t currently have any employees, so the US firm will contract the US firm to do work.
My question is, at the end of the year, the company will have to file a US Corporate tax return. In order to do so, what role does an ITIN play? Will it be required for the president? For the vice-presidet? Etc?
etc.?

If required, is it best to apply now, or can it wait until closer to tax filing deadlines?

Any guidance you could offer would be much appreciated.
Thanks,

Actually I think you might have to do two US corporation returns, an 1120 for the US entity and an 1120-F for the Canadian one because it sounds like a wholly-owned subsidary or a flow-through entity. The Canadian one will probably need to file an 8833 as well.

They actually need EINs, you can apply on www.irs.gov

If the Canadian corporation is doing the invoicing and the US corporation is merely a paper entity then there's not really much to do for the US corporation other than filing a blank 1120.

To be honest it sounds like overkill to get insurance, just getting a US address and an EIN for the Canadian corporation would have solved that problem, surely?

If all the work is done in Canada then there is no US tax, it's just a load of paperwork.