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Form 2553: Election by a Small Business Corporation (Under Section 1362 of the Internal Revenue Code)
IRS Form 2553 is used to make an election under section 1362(a) to be treated as an S corporation by a qualifying entity. The form must be filed within 3 years and 75 days of the date entered on line E.
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IRS Form 2553 - Election by a Small Business Corporation (Under Section 1362 of the Internal Revenue Code)
IRS Form 2553 is used to make an election under section 1362(a) to be treated as an S corporation by a qualifying entity. The form must be filed within 3 years and 75 days of the date entered on line E.
Risk Radar
Scan points- 1Failing to file within the 3 years and 75 days deadline means the entity fails to qualify as an S corporation.
- 2Filing without entering the correct beginning date of the tax year (if changing it)
- 3Not checking the box corresponding to the S corporation's selected tax year in Item F
- 4Omitting the required social security number for an individual listed in column J (Column M)
- 5Completing only Part III when making a QSST election without filling out Part I details
Plain English
This form allows a business or other eligible entity to officially elect to be taxed as an S corporation. Filing Form 2553 tells the IRS that this specific entity wants the tax benefits associated with S corporation status. This election must happen within a set timeframe relative to when the decision is made.
Submission Date
- Filing date: 2025-01-13 22:10:46
- 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 a corporation or eligible entity elects to be treated as an S corporation under section 1362(a) of the Internal Revenue Code.
- Do not use it if the entity is electing for a tax year other than a required tax year unless that specific request is detailed in Part II instructions.
- Check Form 8869 instead when a parent S corporation elects to treat an eligible wholly owned subsidiary as a qualified subchapter S subsidiary.
Form selector
Use this form or another form?
Entity failed to qualify due to late filing of Form 1120-S
The entity must have timely filed all Forms 1120-S consistent with its requested S corporation classification.
✓ Check the relationship between this election and your primary tax return.
Entity failed to qualify due to late filing of Form 8832
This applies if Form 8832 wasn't timely filed or deemed filed under specific regulations.
✓ Verify the status of your required corporate election form.
Requesting relief for a late election without meeting other requirements
Generally, this requires requesting a private letter ruling and paying a user fee per Rev. Proc. 2021-1 (or successor).
✓ Confirm if you need to request special permission beyond just filing the form.
Deadline or filing window
The filing window begins on the date entered on line E of Form 2553. The strict deadline is 3 years and 75 days from that entry date. There is no mention of a specific extension process for this form, though late filing relief provisions exist.
Checklist
What you need before filling it out
Purpose of Form
Corporation or eligible entity information · Instructions p.1
Election Date (Line E)
Date the corporation intends to be classified as an S corp · Instructions p.1, p.2
Filing Deadline
3 years and 75 days from the date on Line E · Instructions p.2
Shareholder Consent (Column K)
Statement confirming income reporting consistency · Instructions p.3
Back-up Election
Form 8716 details are referenced · Instructions p.5
Relief Requirement
Private Letter Ruling + User Fee · Instructions p.3
Before you submit
- 1Ensure the entity is an eligible entity as defined in Regulations section 301.7701-3(a) (Instructions p.3, item 1).
- 2Verify that the date entered on line E reflects when the corporation intended to be classified as an S corporation (Instructions p.2, item 1).
- 3Confirm the entity will file Form 2553 within 3 years and 75 days of the date entered on line E (Instructions p.2, item 3).
- 4Verify shareholder consent is provided via Part I, Column K, or an attached statement (Instructions p.3).
- 5Check if you are filing a back-up section 444 election and note any differing tax year requests (Instructions p.5).
- 6If late, confirm the entity either timely filed all Forms 1120-S OR that the first year's due date has not passed (Instructions p.3, item 6).
- 7Ensure you are sending the original election, unless filing by fax (Instructions p.3).
How to file this form
- 1Complete Form 2553 with all required information, noting the intended S corporation classification date on line E.
- 2Obtain and complete shareholder consent statements, ensuring they report income consistently for affected years (Part I, Column K).
- 3Determine if you must file via mail or fax, using the correct IRS Center address based on your location.
- 4Send the original Form 2553 to the designated Internal Revenue Service Center and keep a copy for permanent records.
Known limitations
- 1An entity must meet all tests to elect S corporation status; meeting these tests allows it to be treated as a corporation upon the effective date without needing Form 8832.
- 2Relief for filing late requires showing reasonable cause for failure to file Form 2553 on time.
- 3If an election is made effective for the first tax year in existence, the filer must enter the earliest of several specified dates onto line E of Form 2553.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is dated December 2017, and instructions are available from the December 2020 revision of Form 2553. For the latest information regarding Form 2553, users should check IRS.gov/Form2553.
What changed or needs a fresh check
- Edition date — confirm the revision date reads December 2017.
- Fee — The fee amount is not stated in the official source, but a user fee must be paid for late election relief (per Rev. Proc. 2021-1).
- Mailing address — Confirm the specific IRS Center address based on your location on IRS.gov/PDSStreetAddresses.
- Signature — Ensure all shareholders consent as explained in the instructions for column K.
Quick Facts
Downloads
After you file
- 1Retain a copy of Form 2553 after filing.
- 2If the IRS questions whether Form 2553 was filed, an acceptable proof of filing includes a certified or registered mail receipt (timely postmarked) from the U.S. Postal Service.
- 3If the entity is not notified of acceptance or nonacceptance within 2 months of filing (or 5 months if box Q1 is checked), follow up by calling 1-800-829-4933.
- 4If the corporation hasn't received its EIN when a return is due, it can enter 'Applied For' and the date the EIN was applied on Form SS-4.
Sources
- SRCInstructions p.1 — Purpose of Form 2553 is to make an election under section 1362(a) to be treated as an S corporation.
- SRCInstructions p.1 — An entity meeting tests can use Form 2553 and avoid filing Form 8832.
- SRCInstructions p.2 — A late S corporation election may be available if the failure was due to reasonable cause, and relief must be requested within 3 years and 75 days of the effective date entered on line E.
- SRCInstructions p.3 — To qualify for a late election, the entity must intend to be classified as an S corporation as of the date on line E of Form 2553.
- SRCInstructions p.4 — Form 2553 generally must be filed no later than 2 months and 15 days after the date entered for item E.
- SRCInstructions p.6 — Comments concerning accuracy or suggestions can be sent to the IRS Tax Forms and Publications Division at 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224.
Common confusion points
What is the deadline to file this form?
The general filing deadline is 3 years and 75 days from the effective date entered on line E of Form 2553.
→ Confirm the date entered on line E.
When do shareholders need to consent to the election?
For an election filed before the effective date, only shareholders owning stock on that day need to consent; for filing on or after the effective date, all shareholders or former ones who owned stock during the period must consent.
→ Check if your filing was before or after the effective date.
What happens if I don't get a response from the IRS?
If you wait longer than 2 months (or 5 months if Q1 is checked), call 1-800-829-4933 to take follow-up action.
→ Verify the date of filing and check box Q1.
What counts as proof that I filed on time?
An acceptable proof includes a certified/registered mail receipt, Form 2553 with an accepted stamp, or an IRS letter stating acceptance.
→ Ensure you have one of these four types of documentation.
Does this form replace the need to file another election?
Yes, if the entity meets certain tests, using Form 2553 allows it to be treated as a corporation and avoids needing to file Form 8832.
If I am late filing, what do I have to prove?
You must explain the reasonable cause for failure to timely file and detail your diligent actions taken upon discovery.
→ Provide this explanation on line I of Form 2553 or an attached statement.
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Questions about IRS Form 2553
What is IRS Form 2553 used for?
This form allows a business or other eligible entity to officially elect to be taxed as an S corporation. Filing Form 2553 tells the IRS that this specific entity wants the tax benefits associated with S corporation status. This election must happen within a set timeframe relative to when the decision is made.
Who must file IRS Form 2553?
A corporation or other entity eligible to elect to be treated as a corporation must use Form 2553 to make an election under section 1362(a) to be an S corporation.
What information does IRS Form 2553 require?
Part I identifies the basic details of the election, while Part III is used specifically for making the QSST election required by section 1361(d)(2). Column M requires the social security number of each individual listed in column J.
When is IRS Form 2553 due?
Form 2553 must be filed within 3 years and 75 days of the date entered on line E of Form 2553.
Where do I file IRS Form 2553?
The form should be sent to the Internal Revenue Service, Tax Forms and Publications Division, at 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224.
How do I complete IRS Form 2553?
First, complete Part I with the basic information. If necessary, check boxes (2) or (4) in Item F and complete Part II. If electing a QSST status, use Part III; remember that Form 2553 cannot be filed with only Part III completed.
What happens if IRS Form 2553 is filed incorrectly?
If an entity fails to qualify as an S corporation because Form 2553 wasn’t timely filed by the due date, the election is deemed failed.
What is the deadline to file this form?
The general filing deadline is 3 years and 75 days from the effective date entered on line E of Form 2553. Confirm the date entered on line E.
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