Internal Revenue Service · Federal form
Fill out Form 2553
Election by a Small Business Corporation Rev. December 2017
From IRS: A corporation or other entity eligible to be treated as a corporation files Form 2553 to make an election under section 1362(a) to be an S corporation. Source
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When the election can be accepted. The election can be accepted only if all the tests under Who May Elect are met, all shareholders have signed the consent statement, an officer has signed, and the exact name and address of the corporation (entity) and other required information have been provided. Source
Facts from the official source
Quoted or closely restated from the IRS's own pages and PDFs, checked .
| Fact | What the source says | Source |
|---|---|---|
| Issued by | Internal Revenue Service, U.S. Department of the Treasury | About Form 2553 (IRS) |
| Edition | Rev. December 2017 | Form 2553 (Rev. December 2017), official PDF Form 2553 PDF, page 1 footer; header reads "(Rev. December 2017)". |
| Current revision | The IRS links the Rev. December 2017 PDF (f2553.pdf) as the current revision. | About Form 2553 (IRS) About Form 2553, "Current revision" section. |
| Fax filing | The form says you can fax it to the IRS (see the separate instructions). | Form 2553 (Rev. December 2017), official PDF Form 2553 (Rev. December 2017), page 1, header. |
| Where to file | Send the original election (no photocopies) or fax it to the IRS service center for the state of the corporation's principal business, office or agency, listed in the Where To File table. If you fax it, keep the original with the corporation's permanent records. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 3, "Where To File" (address and fax table on the same page). |
| When to file | File Form 2553 no more than 2 months and 15 days after the beginning of the tax year the election is to take effect, or at any time during the tax year preceding the tax year it is to take effect. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 1, "When To Make the Election". |
| User fee (box Q1 only) | If you check box Q1 (fiscal tax year based on a business purpose), you will be charged a user fee of $6,200 (subject to change by Rev. Proc. 2021-1 or its successor). Do not pay the fee when filing Form 2553; the IRS will notify the corporation that the fee is due. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 5, "Box Q1". |
| Late elections | For a late S corporation election, enter “FILED PURSUANT TO REV. PROC. 2013-30” in the top margin of the first page of Form 2553. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 2, "Relief for Late Elections". |
| Officer signature | Form 2553 must be signed and dated by the president, vice president, treasurer, assistant treasurer, chief accounting officer or any other corporate officer (such as tax officer) authorized to sign. If it is not signed, it will not be considered timely filed. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 4, "Signature". |
| Shareholder consent | Each shareholder consents by signing and dating either in column K or on a separate consent statement. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 5, "Column K. Shareholder's Consent Statement". |
| When the election can be accepted | The election can be accepted only if all the tests under Who May Elect are met, all shareholders have signed the consent statement, an officer has signed, and the exact name and address of the corporation (entity) and other required information have been provided. | Form 2553 (Rev. December 2017), official PDF Form 2553 (Rev. December 2017), page 1, Note above Part I. |
| Form 1120-S timing | Do not file Form 1120-S for any tax year before the year the election takes effect. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 4, Caution. |
| Official instructions | Instructions for Form 2553 (Rev. December 2020), for use with the December 2017 revision of Form 2553. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 1, header. |
| Filing addresses may change | The filing information in the instructions is subject to change; for the latest information go to IRS.gov/Filing/Where-To-File-Your-Taxes-for-Form-2553. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 3, Caution below the Where To File table. |
| Acceptance notice | The service center notifies the corporation (entity) whether its election is accepted and when it takes effect; a determination should generally arrive within 60 days after filing. | Instructions for Form 2553 (Rev. December 2020), PDF Instructions for Form 2553 (Rev. December 2020), page 3, "Acceptance or Nonacceptance of Election". |
What is on the form
- Part I: Election Information
- Name, address, items A to C (EIN, date incorporated, state of incorporation), item D (name or address change), item E (effective date), item F (selected tax year), item G (family shareholder count), item H (contact officer) and item I (late election explanation), with the officer’s signature. Form 2553 (Rev. December 2017), page 1
- Part I: Election Information (continued)
- Columns J to N: each shareholder’s name and address, Shareholder’s Consent Statement signature and date, stock owned or percentage of ownership, SSN or EIN, and tax year end. Form 2553 (Rev. December 2017), page 2
- Part II: Selection of Fiscal Tax Year
- Items O to R: type of corporation, natural business year or ownership tax year representations, business purpose request, and section 444 election. Form 2553 (Rev. December 2017), page 3
- Part III: Qualified Subchapter S Trust (QSST) Election Under Section 1361(d)(2)
- Income beneficiary’s and trust’s names, addresses and numbers, the date stock was transferred to the trust, and the signature. Form 2553 (Rev. December 2017), page 4
- Part IV: Late Corporate Classification Election Representations
- Representations 1 to 5b for relief for a late entity classification election made together with the S corporation election. Form 2553 (Rev. December 2017), page 4
Checked by PDF Tower: the official PDF has 4 pages and 100 fillable fields (81 text, 19 checkbox or radio), 120 KB. SHA-256 b462579a45e4ce38…, computed .
Edition and revisions
- Edition on this page: Rev. December 2017.
- Recent developments (IRS): Effective June 18, 2019, the filing address has changed for Form 2553 filers located in certain states; see Where to File Your Taxes for Form 2553. Source
- All revisions at IRS
Sources
- About Form 2553 (IRS) Retrieved .
- Form 2553 (Rev. December 2017), official PDF Retrieved .
- Instructions for Form 2553 (Rev. December 2020), PDF Retrieved .
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