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IRSOther IRS Forms (4000–6999)

Official form guide

Form 433-BOI: 433-B (OIC)

Form 433-B (Offer in Compromise – Business) is the financial statement the IRS requires from a business that wants to settle its tax debt for less than the full amount owed. Use it when submitting an Offer in Compromise (OIC) for a corporation, partnership, or other entity.

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Form Overview

IRS Form 433-BOI - 433-B (OIC)

Form 433-B (Offer in Compromise – Business) is the financial statement the IRS requires from a business that wants to settle its tax debt for less than the full amount owed. Use it when submitting an Offer in Compromise (OIC) for a corporation, partnership, or other entity.

It captures balance‑sheet items, cash flow, monthly income, expenses, and a detailed list of assets and liabilities.

Risk Radar

Scan points
  • 1A single mis‑typed dollar amount can cause the entire offer to be rejected.
  • 2Misstating asset values
  • 3Leaving out a liability
  • 4Using outdated financial statements
  • 5Incorrect calculation of monthly disposable income

Plain English

If a business can’t pay its tax bill, it can ask the IRS to accept a smaller payment. Form 433‑B gathers the company’s assets, liabilities, income, and expenses so the IRS can decide if the offer is reasonable. The form is a snapshot of the company’s financial health at the time of the offer.

Submission Date

  • Filing date: 2026-04-18 11:10:40
  • Preparation window: collect IDs, supporting records, and signatures in advance.
  • Final review: verify names, dates, and required fields before submission.

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Glossary Terms

partnershipfinancialpaymententityincomehealthoffer

Hover a term to preview the meaning.

What this form is for

  • Use when a business wants to propose an Offer in Compromise.
  • Do not use for individual taxpayers; they use Form 433‑A.
  • If the business is insolvent, consider filing Form 1120‑S with a Schedule L instead.

Form selector

Use this form or another form?

Business is a sole proprietor

Individual financial statement required

✓ Verify entity type before proceeding

Form 433‑A

Offer includes a lump‑sum payment only

Main OIC application

✓ Ensure 433‑B is attached

Form 656 (OIC)

Requesting a fee waiver

Fee waiver request

✓ Attach proof of inability to pay fee

Form 656‑B

Deadline or filing window

The IRS does not set a hard deadline for filing an OIC, but the offer must be submitted with a complete Form 433‑B and fee. Delays in submitting accurate data can extend the review period beyond the typical 90‑day window.

  • —Monthly disposable income | Total monthly income – allowable expenses | Monthly payment amount | Verify expense categories are IRS‑approved

Checklist

What you need before filling it out

1

Asset values

Appraisals, bank statements, or market quotes · Asset schedules, recent purchase receipts

⚠ Rounding errors or outdated appraisals✕ High
2

Liabilities

Creditor statements, loan agreements · Liability schedule

⚠ Omitting a small loan✕ Medium
3

Cash flow

Bank statements, profit‑and‑loss statements · Monthly cash flow worksheet

⚠ Using projected income instead of actual✕ High
4

Equity

Balance sheet · Prior year tax return Schedule L

⚠ Misclassifying equity as liability✕ Medium

Before you submit

  1. 1All sections of Form 433‑B completed.
  2. 2Arithmetic checked twice.
  3. 3Signature of authorized officer present.
  4. 4$205 fee included or waiver request attached.
  5. 5All supporting documents labeled and attached.
  6. 6Form dated the day of submission.
  7. 7Copy of the completed Offer in Compromise (Form 656) included.
  8. 8Correct IRS mailing address used.
  9. 9If filing electronically, PDF is PDF/A‑1b compliant.
  10. 10Retain a complete copy for your records.

How to file this form

  1. 1Gather latest financial statements, bank statements, and asset valuations.
  2. 2Complete Form 433‑B line by line using current figures.
  3. 3Calculate monthly disposable income and proposed payment schedule.
  4. 4Attach supporting documents for each asset and liability.
  5. 5Include Form 656 (Offer in Compromise) and the $205 fee or waiver request.
  6. 6Sign the form and date it.
  7. 7Mail or upload the packet to the IRS address/portal specified in the OIC instructions.

Known limitations

  1. 1Form does not calculate the offer amount; the taxpayer must propose a reasonable figure.
  2. 2IRS may request additional documentation after receipt.
  3. 3The form assumes the business’s financial condition is static; rapid changes require an amendment.
  4. 4No guarantee of acceptance; the IRS applies its own eligibility criteria.

Field map

Compact field-by-field guide

6 fields

General Info

2 items

Taxpayer Name and TIN

Full legal name and taxpayer identification number (SSN or EIN).

Requiredtext
Address

Current mailing address.

Requiredtext

Details

2 items

Required Information

Complete all applicable sections of this form according to the official IRS instructions.

Requiredtext
Amount (if applicable)

Enter the relevant dollar amount if this form involves tax calculation.

amount

Certification

1 items

Certification Statement

Read and acknowledge any certifications required by this form.

Requiredcheckbox

Signatures

1 items

Signature

Sign and date. Unsigned forms cannot be processed.

Requiredsignature
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Current form status
IRS

The IRS will acknowledge receipt within 30 days and then review the financial data. Expect a decision within 90‑180 days after complete submission.

What changed or needs a fresh check

  • Edition date – verify the form is the 2024 revision (latest as of filing).
  • Fee – $205 application fee unless a waiver is approved.
  • Mailing address – use the address in the OIC instructions for your state.
  • Signature authority – signer must be an officer or authorized representative.
  • Electronic submission – only available if the taxpayer is enrolled in the IRS Online OIC portal.

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Form 433-BOI page 1

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Form 433-BOI page 2

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Quick Facts

The business owner, officer, or authorized tax representative files the form on behalf of the entity.
It captures balance‑sheet items, cash flow, monthly income, expenses, and a detailed list of assets and liabilities.
File the form together with the Offer in Compromise packet; the IRS reviews it before accepting or rejecting the offer.
Mail the completed form and supporting documents to the IRS address listed in the OIC instructions for the taxpayer’s jurisdiction. Some cases can be submitted electronically through the IRS Online Offer in Compromise portal if the taxpayer is enrolled.
Errors or omissions can cause the OIC to be denied, delay processing, or trigger an audit of the business’s finances.
Gather the most recent financial statements, bank statements, and asset valuations. Fill out each section of the form using the current numbers, then attach required documentation. Review for arithmetic accuracy, sign, and include the $205 OIC application fee (or fee waiver request). Mail or upload the packet per the address in the instructions.

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After you file

  1. 1Keep the mailed receipt or electronic confirmation.
  2. 2Track the case number assigned by the IRS.
  3. 3Monitor mail for the IRS acknowledgment within 30 days.
  4. 4Prepare to respond to any IRS request for clarification within the stated timeframe.
  5. 5Update internal financial records if the offer is accepted.
  6. 6Maintain copies of all submitted documents for at least 7 years.

Sources

  • SRCIRS Form 433‑B instructionsoutlines purpose and required data.
  • SRCIRS Offer in Compromise (OIC) guidelinesfee amount and submission address.
  • SRCIRS Publication 535allowable expenses for disposable income calculation.
  • SRCIRS Online OIC portal FAQelectronic submission eligibility.
  • SRCIRS Notice of Acceptance or Rejectiontypical processing timelines.
  • SRCForm 656‑B instructionsfee waiver criteria.

Common confusion points

Form 433‑B vs. 433‑A

Business vs. individual

→ Verify entity type before starting

Monthly disposable income calculation

Which expenses are allowable

→ Use IRS Publication 535 as reference

Fee waiver eligibility

Income thresholds

→ Attach Form 656‑B with supporting proof

Electronic vs. paper submission

Not all taxpayers have portal access

→ Follow the method listed in the instructions

Asset valuation date

Should reflect current market value

→ Use dates within 30 days of filing

Workflow map

Related forms and next steps

5 signals

Before

Form 1120 (Corporate tax return) – provides baseline financial data

Current

433-BOI

After

IRS Notice of Acceptance or Rejection – determines next steps

Often used with

Form 656 – Offer in Compromise applicationForm 656‑B – Fee waiver request (if needed)

⚠ If something goes wrong

  • Request a Collection Due Process (CDP) hearing using Form 12153

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Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
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