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Form 1120-SSB: 1120-S (Schedule B-1)
IRS Form 1120-S Schedule B-1 is used by S corporations to report information on shareholders that were disregarded entities, trusts, estates, or nominees during the tax year. It must be attached to Form 1120-S and filed by all S corporations that answer 'Yes' to Schedule B, question 3.
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IRS Form 1120-SSB - 1120-S (Schedule B-1)
IRS Form 1120-S Schedule B-1 is used by S corporations to report information on shareholders that were disregarded entities, trusts, estates, or nominees during the tax year. It must be attached to Form 1120-S and filed by all S corporations that answer 'Yes' to Schedule B, question 3.
Risk Radar
Scan points- 1Entering the wrong person in column (d) for a trust or disregarded entity.
- 2Entering the owner's name instead of the disregarded entity's name in column (a).
- 3Failing to provide the SSN or EIN in column (b) when required.
- 4Selecting the wrong type in column (c) for a trust (e.g., QSST vs. ESBT).
- 5Not entering the grantor's name and SSN for a grantor trust in column (d).
Plain English
This form tells the IRS about S corporation shareholders that are not regular people, like trusts, estates, or companies that are ignored for tax purposes. It makes sure the right person or entity reports the income from the S corporation.
Submission Date
- Filing date: 2020-12-16 22:10:20
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when the S corporation answers 'Yes' to Form 1120-S, Schedule B, question 3, indicating it had a shareholder that was a disregarded entity, trust, estate, or nominee during the tax year.
- Do not use it when the S corporation answers 'No' to Schedule B, question 3, because no such shareholders existed during the tax year.
- Check Schedule K-1 (Form 1120-S) instead when you need to report each shareholder's share of income, deductions, credits, etc., but Schedule B-1 is required in addition if the shareholder is one of the specified types.
Form selector
Use this form or another form?
S corporation answers 'No' to Schedule B question 3
No need to file Schedule B-1; file only Form 1120-S with its required schedules.
✓ Confirm the answer to question 3 is correct before omitting Schedule B-1.
Shareholder is a disregarded entity (e.g., single-member LLC)
Must report the entity in column (a) and the owner in column (d); even if owner info is on Schedule K-1.
✓ Verify the LLC did not elect corporate tax treatment (ineligible as S corp shareholder).
Shareholder is a trust (grantor, QSST, or ESBT)
Column (d) entry depends on trust type: grantor for grantor trust, beneficiary for QSST, repeat columns (a)-(b) for ESBT.
✓ Identify the trust type correctly to avoid misreporting the responsible person.
Shareholder is a nominee, guardian, custodian, or agent
Report the nominee in column (a) and the person for whom stock is held in column (d); even if that person is on Schedule K-1.
✓ Ensure the nominee's SSN/EIN is entered in column (b) if available.
Deadline or filing window
The official source does not specify a filing deadline for Schedule B-1. It is attached to Form 1120-S, so it follows the due date of that form. However, no specific deadline is provided in the instructions for this schedule.
Checklist
What you need before filling it out
Column (a) – Name of shareholder of record
Name of the disregarded entity, trust, estate, or nominee as shown on corporate records · Corporate shareholder ledger or stock certificate
Column (b) – SSN or EIN of shareholder of record
SSN or EIN of the entity or nominee (if any) · Shareholder's tax identification number documentation
Column (c) – Type of shareholder of record
One of: disregarded entity, trust, estate, nominee, guardian, custodian, agent, or similar person · Description from shareholder records or trust document
Column (d) – Name and SSN/EIN of responsible person
For disregarded entity: owner's name and SSN/EIN; for trust: depends on type; for nominee: beneficial owner; for estate: repeat columns (a)-(b) · Trust instrument, grantor's tax return, or beneficial owner information
Disregarded entity – owner eligibility
Owner must be an individual eligible to be an S corporation shareholder · Owner's citizenship/residency status
Trust – QSST single beneficiary
Only one beneficiary, who must be an individual · Trust document
Before you submit
- 1Confirm that Form 1120-S, Schedule B, question 3 is answered 'Yes'.
- 2Attach Schedule B-1 (Form 1120-S) to Form 1120-S before filing.
- 3Complete columns (a) through (d) for each shareholder that was a disregarded entity, trust, estate, or nominee.
- 4In column (a), enter the name of the shareholder of record (the entity, trust, estate, or nominee), not the beneficial owner.
- 5In column (c), enter the exact type from the list: disregarded entity, trust, estate, nominee, guardian, custodian, agent, or similar person.
- 6For a disregarded entity, enter the owner's name and SSN/EIN in column (d); do not enter the entity's own info there.
- 7For a grantor trust, enter the grantor's name and SSN in column (d).
- 8For a qualified subchapter S trust (QSST), enter the single beneficiary's name and SSN in column (d).
- 9For an electing small business trust (ESBT) or an estate, do not enter beneficiary info; repeat the entries from columns (a) and (b) in column (d).
- 10Verify that no LLC that elected to be taxed as a corporation is listed as a shareholder (such an LLC is not eligible).
- 11Check the latest information at www.irs.gov/Form1120S to ensure no post-revision changes apply.
- 12Keep a copy of the completed Schedule B-1 and the entire Form 1120-S for your records.
How to file this form
- 1Obtain the current revision (December 2020 or later) of Schedule B-1 (Form 1120-S) from www.irs.gov/Form1120S.
- 2Complete Form 1120-S, including Schedule B, question 3, answering 'Yes' if applicable.
- 3For each shareholder that was a disregarded entity, trust, estate, or nominee at any time during the tax year, fill out columns (a) through (d) on Schedule B-1 following the specific instructions for each type.
- 4Attach the completed Schedule B-1 to Form 1120-S.
- 5File Form 1120-S with the attached Schedule B-1 according to the mailing or e-filing instructions for Form 1120-S.
- 6Retain a copy of the filed form and all supporting documents (e.g., trust documents, ownership records) for your records.
Known limitations
- 1Schedule B-1 is not required if the S corporation answers 'No' to Form 1120-S, Schedule B, question 3.
- 2Schedule B-1 does not apply to shareholders that are individuals directly (unless they act as nominees, guardians, etc.).
- 3An LLC that elects to be taxed as a corporation for federal income tax purposes is not eligible to be an S corporation shareholder and should not appear on Schedule B-1.
- 4For a grantor trust, the grantor must be an individual; the trust itself cannot be the grantor.
- 5For a QSST, there can be only one beneficiary, who must be an individual; multiple beneficiaries disqualify the trust as a QSST.
- 6For an ESBT or an estate, do not enter any beneficiary information in column (d); instead repeat the entries from columns (a) and (b).
Field map
Compact field-by-field guide
Entity Info
2 items
Full legal name of the corporation and its Employer Identification Number.
Current mailing address and date of incorporation.
Income
3 items
Total revenue from business operations before deducting costs.
Direct costs attributable to producing goods sold by the corporation.
Gross receipts minus cost of goods sold and returns/allowances.
Deductions
1 items
Sum of all business expenses including compensation, rent, interest, taxes, and depreciation.
Tax
2 items
Total income minus total deductions.
Tax calculated on taxable income using the applicable corporate tax rate, minus any credits.
Signatures
1 items
An authorized corporate officer must sign and date the return.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current revision of Schedule B-1 (Form 1120-S) is December 2020. The IRS directs filers to www.irs.gov/Form1120S for the latest information on developments or changes. No changes from the prior revision are noted in the source.
What changed or needs a fresh check
- Edition date — confirm the form revision reads 'Rev. December 2020' (or later if updated).
- Fee — not stated in the official source; no separate fee for this schedule (attached to Form 1120-S).
- Mailing address — not stated in the official source; file with Form 1120-S using that form's mailing instructions.
- Signature — not stated in the official source; the Form 1120-S signature covers this schedule.
- OMB number — confirm OMB No. 1545-0123 is printed on the form.
- Latest information — check www.irs.gov/Form1120S for any updates or changes after the revision date.
Quick Facts
Downloads
After you file
- 1Retain a copy of the filed Form 1120-S and Schedule B-1 for at least 3 years (or as required by general recordkeeping rules).
- 2Provide each shareholder with a copy of their Schedule K-1 (Form 1120-S) reflecting their share of income, deductions, credits, etc.
- 3Monitor the IRS website (www.irs.gov/Form1120S) for any future updates or corrections to Schedule B-1.
- 4If an error is discovered after filing, consult the instructions for Form 1120-S on how to file an amended return (Form 1120-X may apply; verify with IRS guidance).
- 5Keep supporting documents (trust agreements, ownership records, etc.) in case of an IRS inquiry.
- 6Check for any IRS correspondence or notices regarding the return and respond promptly.
Sources
- SRCFiling requirement: Schedule B-1 must be filed by all S corporations that answer 'Yes' to Form 1120-S, Schedule B, question 3 — [Form p.2]
- SRCPurpose: Provide information on shareholders that were disregarded entities, trusts, estates, or nominees — [Form p.2]
- SRCColumn (a) instructions: Enter name of shareholder of record (disregarded entity, trust, estate, nominee) — [Form p.2]
- SRCColumn (c) instructions: Enter type of shareholder (e.g., disregarded entity, trust, estate, nominee, guardian, custodian, agent) — [Form p.2]
- SRCColumn (d) instructions: Enter name and SSN/EIN of individual or entity responsible for reporting shareholder's income from Schedule K-1 — [Form p.2]
- SRCDisregarded entity example: Enter entity name in (a), owner's name and SSN/EIN in (d) — [Form p.2]
- SRCTrust rules: Grantor trustgrantor info; QSST – beneficiary info; ESBT – repeat (a) and (b) — [Form p.2]
- SRCEstate rule: Repeat (a) and (b) in (d); do not enter beneficiary info — [Form p.2]
- SRCLLC that elects corporate treatment is not eligible as S corporation shareholder — [Form p.2]
- SRCLatest information: Go to www.irs.gov/Form1120S for updates — [Form p.1] and [Form p.2]
Common confusion points
When do I need to file Schedule B-1?
The requirement depends on answering 'Yes' to Form 1120-S Schedule B question 3, which asks about certain shareholder types.
→ Review the question carefully; if any shareholder was a disregarded entity, trust, estate, or nominee, answer 'Yes' and attach Schedule B-1.
What should I enter in column (a) for a disregarded entity?
The shareholder of record is the disregarded entity itself, not its owner.
→ Enter the name of the disregarded entity (e.g., the single-member LLC) in column (a); the owner goes in column (d).
What if the shareholder is a trust – what goes in column (d)?
The answer depends on the type of trust: grantor trust, QSST, or ESBT.
→ Identify the trust type from the trust document; follow the specific rule: grantor for grantor trust, beneficiary for QSST, repeat (a)-(b) for ESBT.
Can an LLC be an S corporation shareholder?
Only if the LLC is a disregarded entity (single-member and no corporate election); an LLC that elects corporate treatment is not eligible.
→ Confirm the LLC's tax classification; if it filed Form 8832 to be taxed as a corporation, it cannot be an S corp shareholder.
What if the shareholder's SSN or EIN is unknown?
The source says 'if any' for columns (b) and (d), so it is acceptable to leave blank if the number does not exist or is unknown.
→ Document the reason for missing SSN/EIN; if the shareholder is a foreign person, they may not have one.
Do I need to file Schedule B-1 if the shareholder is an individual?
No, unless that individual is acting as a nominee, guardian, custodian, or agent for another person.
→ Check if the individual holds the stock on behalf of someone else; if so, they are a nominee and Schedule B-1 is required.
What is the difference between a QSST and an ESBT for column (d)?
QSST requires the beneficiary's info; ESBT requires repeating the trust's info from (a) and (b).
→ Read the trust document; a QSST has a single income beneficiary, while an ESBT has multiple beneficiaries and different tax treatment.
Can I use the same information in column (d) as in column (a) for an estate?
Yes, for an estate, enter the same name and EIN from columns (a) and (b) in column (d); do not enter beneficiary info.
→ Confirm the shareholder is an estate (not a trust); estate rules differ from trust rules.
Workflow map
Related forms and next steps
Before
Current
Often used with
⚠ If something goes wrong
- Instructions for Form 1120-S – provides guidance on corrections, amendments, and filing procedures.
Questions about IRS Form 1120-SSB
What is IRS Form 1120-SSB used for?
This form tells the IRS about S corporation shareholders that are not regular people, like trusts, estates, or companies that are ignored for tax purposes. It makes sure the right person or entity reports the income from the S corporation.
Who must file IRS Form 1120-SSB?
All S corporations that answer 'Yes' to Form 1120-S, Schedule B, question 3 must file Schedule B-1 (Form 1120-S).
What information does IRS Form 1120-SSB require?
The form collects information in four columns: (a) name of the shareholder of record, (b) their SSN or EIN, (c) type of shareholder (e.g., disregarded entity, trust, estate, nominee), and (d) name and SSN/EIN of the individual or entity responsible for reporting the shareholder's income from Schedule K-1.
How do I complete IRS Form 1120-SSB?
Complete Schedule B-1 by entering the required information in columns (a) through (d) for each shareholder that was a disregarded entity, trust, estate, or nominee. Follow the specific instructions for each type: for a disregarded entity, enter the entity's name in column (a) and the owner's name in column (d); for a trust, the entry in column (d) depends on the trust type. Attach the completed schedule to Form 1120-S.
When do I need to file Schedule B-1?
The requirement depends on answering 'Yes' to Form 1120-S Schedule B question 3, which asks about certain shareholder types. Review the question carefully; if any shareholder was a disregarded entity, trust, estate, or nominee, answer 'Yes' and attach Schedule B-1.
What should I enter in column (a) for a disregarded entity?
The shareholder of record is the disregarded entity itself, not its owner. Enter the name of the disregarded entity (e.g., the single-member LLC) in column (a); the owner goes in column (d).
What if the shareholder is a trust – what goes in column (d)?
The answer depends on the type of trust: grantor trust, QSST, or ESBT. Identify the trust type from the trust document; follow the specific rule: grantor for grantor trust, beneficiary for QSST, repeat (a)-(b) for ESBT.
Can an LLC be an S corporation shareholder?
Only if the LLC is a disregarded entity (single-member and no corporate election); an LLC that elects corporate treatment is not eligible. Confirm the LLC's tax classification; if it filed Form 8832 to be taxed as a corporation, it cannot be an S corp shareholder.
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