Form 2553: Elect S Corporation Status Online

What is 2553?

Form 2553 elects S corporation status under section 1362. Income, losses, and credits then pass through to shareholders, and owner-employees split compensation between salary (payroll-taxed) and distributions (not), the arithmetic behind most S elections. Eligibility is strict: a domestic corporation, at most 100 shareholders, all of them individuals, certain trusts, or estates, no nonresident alien shareholders, and one class of stock.

Timing rules matter: file within two months and 15 days of the start of the tax year the election is to take effect, or any time in the preceding year. Late elections are frequently forgiven through the relief procedure built into the form.

Who files 2553?

Corporations choosing pass-through taxation
LLCs electing to be taxed as S corporations
Businesses making a late election with reasonable cause under Rev. Proc. 2013-30

How to fill out 2553

Enter the entity’s name, EIN, incorporation details, and the effective date of the election.
Choose your tax year in Part I and explain any non-calendar year in Part II.
Have every shareholder sign the consent block with their shares and dates acquired.
If filing late, state the reasonable cause on the lines provided.
Download, have an officer sign, and fax or mail it to the IRS service center for your state.

Quick fill 2553 on this page

Prefer to see the form itself while you type? Open 2553 in the editor to fill it on the actual pages, add a signature, and download.

These are the form's own fields, in the order they appear on the pages. Fill in what you know; anything left blank stays a fillable field in the PDF, so you can finish it in any PDF reader. Nothing you type here is sent to IRS.

Page 1 28 fields

Name (see instructions)

Number, street, and room or suite no. If a P.O. box, see instructions.

City or town, state or province, country, and ZIP or foreign postal code

A Employer identification number

B Date incorporated

C State of incorporation

name or

address

Caution: A corporation (entity) making the election for its first tax year in existence will usually enter the beginning date of a short

Item F. Selected tax year: (1) Calendar year.

Item F. Selected tax year: (2) Fiscal year ending (month and day).

Item F. Selected tax year: (2) Fiscal year ending (enter month and day).

Item F. Selected tax year: (3) 52-53-week year ending with reference to the month of December.

Item F. Selected tax year: (4) 52-53-week year ending with reference to the month of (month).

Selected tax year: (4) 52-53-week year ending with reference to the month of (enter month). If box (2) or (4) is checked, complete Part 2.

If more than 100 shareholders are listed for item J (see page 2), check this box if treating members of a family as one shareholder results

Name and title of officer or legal representative whom the IRS may call for more information

Telephone number of officer or legal representative

See below for my explanation of the reasons the election or elections were not made on time and a description of my diligent actions to

Item I. Entry line 2 of 9.

Item I. Entry line 3 of 9.

Item I. Entry line 4 of 9.

Item I. Entry line 5 of 9.

Item I. Entry line 6 of 9.

Item I. Entry line 7 of 9.

Item I. Entry line 8 of 9.

Item I. Entry line 9 of 9.

Title

Page 2 51 fields

Name

Employer identification number

Name and address of each shareholder or former shareholder required to consent to the election (see instructions).

If seeking relief for a late filed election, I also declare under penalties of perjury that I have reported my income on all affected

Entry 1. Item K. Date.

Entry 1. Item L. Stock owned or percentage of ownership (see instructions). Number of shares or percentage of ownership.

Entry 1. Item L. Stock owned or percentage of ownership (see instructions). Date (or Dates) acquired.

Entry 1. Item M. Social security number or employer identification number (see instructions).

Entry 1. Item N. Shareholder's tax year ends (month and day).

Entry 2. Item J.

Entry 2. Item K. Signature.

Entry 2. Item K. Date.

Entry 2. Item L. Number of shares or percentage of ownership.

Entry 2. Item L. Date (or Dates) acquired.

Entry 2. Item M.

Entry 2. Item N.

Entry 3. Item J.

Entry 3. Item K. Signature.

Entry 3. Item K. Date.

Entry 3. Item L. Number of shares or percentage of ownership.

Entry 3. Item L. Date (or Dates) acquired.

Entry 3. Item M.

Entry 3. Item N.

Entry 4. Item J.

Entry 4. Item K. Signature.

Entry 4. Item K. Date.

Entry 4. Item L. Number of shares or percentage of ownership.

Entry 4. Item L. Date (or Dates) acquired.

Entry 4. Item M.

Entry 4. Item N.

Entry 5. Item J.

Entry 5. Item K. Signature.

Entry 5. Item K. Date.

Entry 5. Item L. Number of shares or percentage of ownership.

Entry 5. Item L. Date (or Dates) acquired.

Entry 5. Item M.

Entry 5. Item N.

Entry 6. Item J.

Entry 6. Item K. Signature.

Entry 6. Item K. Date.

Entry 6. Item L. Number of shares or percentage of ownership.

Entry 6. Item L. Date (or Dates) acquired.

Entry 6. Item M.

Entry 6. Item N.

Entry 7. Item J.

Entry 7. Item K. Signature.

Entry 7. Item K. Date.

Entry 7. Item L. Number of shares or percentage of ownership.

Entry 7. Item L. Date (or Dates) acquired.

Entry 7. Item M.

Entry 7. Item N.

Page 3 14 fields

Page 4 7 fields

Name

Employer identification number

Income beneficiary’s name and address

Social security number

Trust’s name and address

Employer identification number

Date on which stock of the corporation was transferred to the trust (month, day, year).

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Frequently asked questions

When does my election take effect if I file late?

By default the next tax year, but the built-in late election relief lets many businesses keep the intended date by showing reasonable cause and consistent filing.

How do I know it was accepted?

The IRS mails CP261, the acceptance notice, usually within about 60 days. Keep it; banks and states ask for proof of the election.

Form 2553, Election by a Small Business Corporation

What is 2553?

Who files 2553?

How to fill out 2553

Quick fill 2553 on this page

Frequently asked questions

Related forms

Form SS-4, Application for Employer Identification Number

Form 941, Employer’s Quarterly Federal Tax Return

Form 8822-B, Change of Address or Responsible Party (Business)