Download IRS Form 2553 "Election by a Small Business Corporation"
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42553
Election by a Small Business Corporation
Form
(Under section 1362 of the Internal Revenue Code)
(Including a late election filed pursuant to Rev. Proc. 2013-30)
OMB No. 1545-0123
(Rev. December 2017)
You can fax this form to the IRS. See separate instructions.
▶
Department of the Treasury
Go to www.irs.gov/Form2553 for instructions and the latest information.
Internal Revenue Service
▶
Note: This election to be an S corporation can be accepted only if all the tests are met under Who May Elect in the instructions, all
shareholders have signed the consent statement, an officer has signed below, and the exact name and address of the corporation
(entity) and other required form information have been provided.
Part I
Election Information
Name (see instructions)
A Employer identification number
Type
Number, street, and room or suite no. If a P.O. box, see instructions.
B Date incorporated
or
Print
C State of incorporation
City or town, state or province, country, and ZIP or foreign postal code
D
Check the applicable box(es) if the corporation (entity), after applying for the EIN shown in A above, changed its
name or
address
E
Election is to be effective for tax year beginning (month, day, year) (see instructions) .
.
.
.
.
.
▶
Caution: A corporation (entity) making the election for its first tax year in existence will usually enter the
beginning date of a short tax year that begins on a date other than January 1.
F
Selected tax year:
(1)
Calendar year
(2)
Fiscal year ending (month and day)
▶
(3)
52-53-week year ending with reference to the month of December
(4)
52-53-week year ending with reference to the month of
▶
If box (2) or (4) is checked, complete Part II.
If more than 100 shareholders are listed for item J (see page 2), check this box if treating members of a family as one
G
shareholder results in no more than 100 shareholders (see test 2 under Who May Elect in the instructions)
▶
H
Name and title of officer or legal representative whom the IRS may call for more information
Telephone number of officer or legal
representative
I
If this S corporation election is being filed late, I declare I had reasonable cause for not filing Form 2553 timely. If this late
election is being made by an entity eligible to elect to be treated as a corporation, I declare I also had reasonable cause for not
filing an entity classification election timely and the representations listed in Part IV are true. 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 correct the mistake upon its
discovery. See instructions.
Under penalties of perjury, I declare that I have examined this election, including accompanying documents, and, to the best of my
knowledge and belief, the election contains all the relevant facts relating to the election, and such facts are true, correct, and complete.
Sign
Here
Signature of officer
Title
Date
2553
For Paperwork Reduction Act Notice, see separate instructions.
Form
(Rev. 12-2017)
Cat. No. 18629R
2553
Election by a Small Business Corporation
Form
(Under section 1362 of the Internal Revenue Code)
(Including a late election filed pursuant to Rev. Proc. 2013-30)
OMB No. 1545-0123
(Rev. December 2017)
You can fax this form to the IRS. See separate instructions.
▶
Department of the Treasury
Go to www.irs.gov/Form2553 for instructions and the latest information.
Internal Revenue Service
▶
Note: This election to be an S corporation can be accepted only if all the tests are met under Who May Elect in the instructions, all
shareholders have signed the consent statement, an officer has signed below, and the exact name and address of the corporation
(entity) and other required form information have been provided.
Part I
Election Information
Name (see instructions)
A Employer identification number
Type
Number, street, and room or suite no. If a P.O. box, see instructions.
B Date incorporated
or
Print
C State of incorporation
City or town, state or province, country, and ZIP or foreign postal code
D
Check the applicable box(es) if the corporation (entity), after applying for the EIN shown in A above, changed its
name or
address
E
Election is to be effective for tax year beginning (month, day, year) (see instructions) .
.
.
.
.
.
▶
Caution: A corporation (entity) making the election for its first tax year in existence will usually enter the
beginning date of a short tax year that begins on a date other than January 1.
F
Selected tax year:
(1)
Calendar year
(2)
Fiscal year ending (month and day)
▶
(3)
52-53-week year ending with reference to the month of December
(4)
52-53-week year ending with reference to the month of
▶
If box (2) or (4) is checked, complete Part II.
If more than 100 shareholders are listed for item J (see page 2), check this box if treating members of a family as one
G
shareholder results in no more than 100 shareholders (see test 2 under Who May Elect in the instructions)
▶
H
Name and title of officer or legal representative whom the IRS may call for more information
Telephone number of officer or legal
representative
I
If this S corporation election is being filed late, I declare I had reasonable cause for not filing Form 2553 timely. If this late
election is being made by an entity eligible to elect to be treated as a corporation, I declare I also had reasonable cause for not
filing an entity classification election timely and the representations listed in Part IV are true. 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 correct the mistake upon its
discovery. See instructions.
Under penalties of perjury, I declare that I have examined this election, including accompanying documents, and, to the best of my
knowledge and belief, the election contains all the relevant facts relating to the election, and such facts are true, correct, and complete.
Sign
Here
Signature of officer
Title
Date
2553
For Paperwork Reduction Act Notice, see separate instructions.
Form
(Rev. 12-2017)
Cat. No. 18629R
2
Form 2553 (Rev. 12-2017)
Page
Name
Employer identification number
Part I
Election Information (continued) Note: If you need more rows, use additional copies of page 2.
K
Shareholder’s Consent Statement
Under penalties of perjury, I declare that I
consent to the election of the above-named
corporation (entity) to be an S corporation
under section 1362(a) and that I have
examined this consent statement, including
L
accompanying documents, and, to the best
Stock owned or
of my knowledge and belief, the election
percentage of ownership
contains all the relevant facts relating to the
(see instructions)
election, and such facts are true, correct,
and complete. I understand my consent is
binding and may not be withdrawn after the
corporation (entity) has made a valid
election. If seeking relief for a late filed
election, I also declare under penalties of
perjury that I have reported my income on all
M
affected returns consistent with the S
Social security
corporation election for the year for which
J
N
number or
the election should have been filed (see
Name and address of each
Number of
employer
Shareholder’s
beginning date entered on line E) and for all
shareholder or former shareholder
shares or
identification
tax year ends
subsequent years.
required to consent to the election.
percentage
Date(s)
number (see
(month and
(see instructions)
Signature
Date
of ownership
acquired
instructions)
day)
2553
Form
(Rev. 12-2017)
3
Form 2553 (Rev. 12-2017)
Page
Name
Employer identification number
Part II
Selection of Fiscal Tax Year (see instructions)
Note: All corporations using this part must complete item O and item P, Q, or R.
O
Check the applicable box to indicate whether the corporation is:
1.
A new corporation adopting the tax year entered in item F, Part I.
2.
An existing corporation retaining the tax year entered in item F, Part I.
3.
An existing corporation changing to the tax year entered in item F, Part I.
P
Complete item P if the corporation is using the automatic approval provisions of Rev. Proc. 2006-46, 2006-45 I.R.B. 859, to
request (1) a natural business year (as defined in section 5.07 of Rev. Proc. 2006-46) or (2) a year that satisfies the ownership
tax year test (as defined in section 5.08 of Rev. Proc. 2006-46). Check the applicable box below to indicate the representation
statement the corporation is making.
1. Natural Business Year
I represent that the corporation is adopting, retaining, or changing to a tax year that qualifies
▶
as its natural business year (as defined in section 5.07 of Rev. Proc. 2006-46) and has attached a statement showing
separately for each month the gross receipts for the most recent 47 months. See instructions. I also represent that the
corporation is not precluded by section 4.02 of Rev. Proc. 2006-46 from obtaining automatic approval of such adoption,
retention, or change in tax year.
2. Ownership Tax Year
I represent that shareholders (as described in section 5.08 of Rev. Proc. 2006-46) holding more
▶
than half of the shares of the stock (as of the first day of the tax year to which the request relates) of the corporation have the
same tax year or are concurrently changing to the tax year that the corporation adopts, retains, or changes to per item F, Part
I, and that such tax year satisfies the requirement of section 4.01(3) of Rev. Proc. 2006-46. I also represent that the corporation
is not precluded by section 4.02 of Rev. Proc. 2006-46 from obtaining automatic approval of such adoption, retention, or
change in tax year.
Note: If you do not use item P and the corporation wants a fiscal tax year, complete either item Q or R below. Item Q is used to
request a fiscal tax year based on a business purpose and to make a back-up section 444 election. Item R is used to make a regular
section 444 election.
Q
Business Purpose—To request a fiscal tax year based on a business purpose, check box Q1. See instructions for details
including payment of a user fee. You may also check box Q2 and/or box Q3.
1. Check here
if the fiscal year entered in item F, Part I, is requested under the prior approval provisions of Rev. Proc.
▶
2002-39, 2002-22 I.R.B. 1046. Attach to Form 2553 a statement describing the relevant facts and circumstances and, if
applicable, the gross receipts from sales and services necessary to establish a business purpose. See the instructions for
details regarding the gross receipts from sales and services. If the IRS proposes to disapprove the requested fiscal year, do
you want a conference with the IRS National Office?
Yes
No
2. Check here
to show that the corporation intends to make a back-up section 444 election in the event the
▶
corporation’s business purpose request is not approved by the IRS. See instructions for more information.
3. Check here
to show that the corporation agrees to adopt or change to a tax year ending December 31 if necessary
▶
for the IRS to accept this election for S corporation status in the event (1) the corporation’s business purpose request is not
approved and the corporation makes a back-up section 444 election, but is ultimately not qualified to make a section 444
election, or (2) the corporation’s business purpose request is not approved and the corporation did not make a back-up
section 444 election.
R
Section 444 Election—To make a section 444 election, check box R1. You may also check box R2.
1. Check here
to show that the corporation will make, if qualified, a section 444 election to have the fiscal tax year
▶
shown in item F, Part I. To make the election, you must complete Form 8716, Election To Have a Tax Year Other Than a
Required Tax Year, and either attach it to Form 2553 or file it separately.
2. Check here
to show that the corporation agrees to adopt or change to a tax year ending December 31 if necessary
▶
for the IRS to accept this election for S corporation status in the event the corporation is ultimately not qualified to make a
section 444 election.
2553
Form
(Rev. 12-2017)
4
Form 2553 (Rev. 12-2017)
Page
Name
Employer identification number
Part III
Qualified Subchapter S Trust (QSST) Election Under Section 1361(d)(2)* Note: If you are making more than
one QSST election, use additional copies of page 4.
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) .
.
.
.
.
.
.
.
▶
In order for the trust named above to be a QSST and thus a qualifying shareholder of the S corporation for which this Form 2553 is
filed, I hereby make the election under section 1361(d)(2). Under penalties of perjury, I certify that the trust meets the definitional
requirements of section 1361(d)(3) and that all other information provided in Part III is true, correct, and complete.
Signature of income beneficiary or signature and title of legal representative or other qualified person making the election
Date
* Use Part III to make the QSST election only if stock of the corporation has been transferred to the trust on or before the date on
which the corporation makes its election to be an S corporation. The QSST election must be made and filed separately if stock of the
corporation is transferred to the trust after the date on which the corporation makes the S election.
Part IV
Late Corporate Classification Election Representations (see instructions)
If a late entity classification election was intended to be effective on the same date that the S corporation election was intended to be
effective, relief for a late S corporation election must also include the following representations.
1
The requesting entity is an eligible entity as defined in Regulations section 301.7701-3(a);
2
The requesting entity intended to be classified as a corporation as of the effective date of the S corporation status;
3
The requesting entity fails to qualify as a corporation solely because Form 8832, Entity Classification Election, was not timely
filed under Regulations section 301.7701-3(c)(1)(i), or Form 8832 was not deemed to have been filed under Regulations section
301.7701-3(c)(1)(v)(C);
4
The requesting entity fails to qualify as an S corporation on the effective date of the S corporation status solely because the
S corporation election was not timely filed pursuant to section 1362(b); and
5a
The requesting entity timely filed all required federal tax returns and information returns consistent with its requested
classification as an S corporation for all of the years the entity intended to be an S corporation and no inconsistent tax or
information returns have been filed by or with respect to the entity during any of the tax years, or
b
The requesting entity has not filed a federal tax or information return for the first year in which the election was intended to be
effective because the due date has not passed for that year’s federal tax or information return.
2553
Form
(Rev. 12-2017)
What Is Tax Form 2553 Used for?
A corporation or another entity eligible to be treated as a corporation is required to use the IRS 2553 Form to elect, under section 1362(a), to be an S corporation. The income of an S corporation is generally taxed to the shareholders rather than to the corporation itself. However, it is still possible that an S corporation owes tax on a certain income.
When Is Form 2553 Due?
The form may be completed and filed at any time during the tax year that precedes the tax year when the election will take effect. If the election is being made on the same tax as the election, the deadline is 2 months and 15 days after the beginning of that tax year.
IRS Form 2553 Instructions
This form consists of four (4) parts. In order to make the election, follow these instructions for filing Form 2553:
- Part I. Election Information. Enter the name and address of the corporation.
- Item A. Employer Identification Number (EIN). Enter the EIN or, if it was not yet received before the return is due, enter "Applied For" along with the date the EIN was applied.
- Items B, C, and D are self-explanatory.
- Item E. Effective Date of Election. If making the election for the corporation's first tax year in existence, enter the earliest of the following dates: when the corporation first had shareholders; when the corporation first had assets; or when the corporation began doing business. If it is not for the corporation's first tax year in existence, and the corporation wants to keep their current tax year, enter the beginning date of the tax year when the election is to be effective.
- Item F. Select Tax Year. Check the box that applies to the S corporation's selected tax year. If box (2) or (4) is checked, additional information on the tax year must be provided, and Part II must be completed. Form 2553 must be signed by the president, vice president, treasurer, chief accounting officer, assistant treasurer, or any other corporate officer authorized to sign. The form must be signed in order to be considered as timely filed.
- Items G, H, and I are self-explanatory.
- Column J. Name and Address of Shareholders. Enter the information of every shareholder required to consent to the election.
- Column K. Shareholder's Consent Statement. Each shareholder must sign and date this column.
- Column L. Stock Owned or Percentage of Ownership. Enter the shares each shareholder owns on the date this election is filed, as well as the date when they were acquired.
- Column M. Social Security Number (SSN) or EIN. Enter this information for each individual listed in column J or estate, trust, or exempt organization.
- Column N is self-explanatory.
- Part II. Selection of Fiscal Year. This part must be completed if you checked box (2) or (4) in Part I, item F.
- Part III. Qualified Subchapter S Trust (QSST) Election Under Section 1361(d)(2). This part may only be used if you make the election in Part I, because form 2553 can't be filed if only Part III is completed.
- Part IV. Late Corporate Classification Election Representations. All the representations that are listed in this part must be attached if a late corporate classification election were to be effective on the same date that an S corporation election was intended to be effective.
Where to Mail Form 2553?
If the corporation's principal office is located in: Connecticut; Delaware; District of Columbia; Florida; Indiana; Maine; Maryland; Massachusetts; New Hampshire; New Jersey; New York; North Carolina; Ohio; Pennsylvania; Rhode Island; South Carolina; Vermont; Virginia; or West Virginia, use the following address or fax number: Department of the Treasury, Internal Revenue Service Center, Cincinnati, OH 45999, Fax: (855) 270-4081
If the corporation's principal office is located in: Georgia; Illinois; Kentucky; Michigan; Tennessee; or Wisconsin, use the following address or fax number: Department of the Treasury, Internal Revenue Service Center, Kansas City, MO 64999, Fax: (855) 887-7734
If the corporation's principal office is located in: Alabama; Alaska; Arizona; Arkansas; California; Colorado; Hawaii; Idaho; Iowa; Kansas; Louisiana; Minnesota; Mississippi; Missouri; Montana; Nebraska; Nevada; New Mexico; North Dakota; Oklahoma; Oregon; South Dakota; Texas; Utah; Washington; or Wyoming, use the following address or fax number: Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201, Fax: (855) 214-7520.
Video Instructions for IRS Form 2553
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