Form 2553 is the form a corporation, or an entity eligible to be treated as one, uses to elect S corporation status under the IRS instructions. If you are preparing another election with the same entity and shareholder details, upload one you completed and a blank one. You review, collect signatures yourself, and preview free.
Tested with the irs.gov edition dated Rev. December 2017
irs.gov says a corporation, or another entity eligible to be treated as a corporation, files this form to make an election under section 1362(a) to be an S corporation. The IRS instructions say that an entity eligible to elect to be treated as a corporation that meets certain tests is treated as a corporation as of the effective date of the S election and does not need to file Form 8832. RepeatForm cannot tell you whether you should elect or whether you qualify.
The IRS instructions list the tests an entity must meet to elect, including that it is a domestic corporation or a domestic entity eligible to elect to be treated as one, and that it has no more than 100 shareholders. Read the full list in the instructions under Who May Elect. For timing, the instructions say to file no more than 2 months and 15 days after the beginning of the tax year the election is to take effect, or at any time during the tax year before it is to take effect. They give worked examples.
The form's title line says it includes a late election filed under Rev. Proc. 2013-30, and the instructions have a section called Relief for Late Elections. Item I on the form is where a late filer states the reasonable cause for filing late. Whether relief fits your situation is a question for the IRS instructions or a qualified adviser, not this page.
The IRS PDF is marked "Form 2553 (Rev. December 2017)". The About Form 2553 page on irs.gov links the current form and its instructions. RepeatForm does not supply the blank form: get it from irs.gov.
The form says an officer must sign, and that all shareholders must have signed the consent statement for the election to be accepted. The instructions say an authorized officer such as the president, vice president, treasurer, assistant treasurer or chief accounting officer signs and dates it, and that if the form is not signed it will not be considered timely filed. On sending it, the instructions say generally to send the original election (no photocopies) or fax it to the IRS Service Center listed for your state, and to keep the original with the entity's records if you fax it. RepeatForm sends nothing anywhere.
Part I covers the entity's name and address, its EIN, date and state of incorporation, the effective date and selected tax year. Items J to N list each shareholder with their consent and details. Part II is for a selected tax year other than a calendar year and later parts cover other elections as described in the instructions. RepeatForm does not choose any answer: read the instructions for each item.
Upload a Form 2553 you completed and a blank one; RepeatForm carries the matching answers across; you review them, then preview the PDF free.
The IRS updates forms from time to time. Carrying an older copy into the current revision works for many answers, but some fields are renamed or moved and match only partly, so check every field after a new revision.
A new business usually gets its EIN with Form SS-4, and the 2553 asks for that number in item A.
For a California LLC, the state Statement of Information is Form LLC-12.
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According to irs.gov, a corporation or other entity eligible to be treated as a corporation files it to make an election under section 1362(a) to be an S corporation.
The IRS instructions say to file no more than 2 months and 15 days after the beginning of the tax year the election is to take effect, or at any time during the tax year before it. They give examples; read them for your dates.
An authorized corporate officer signs and dates it, and every shareholder required to consent signs the consent statement. The instructions say that if the form is not signed it will not be considered timely filed.
The instructions say generally to send the original election, without photocopies, or fax it, to the IRS Service Center for your state. The address and fax number are in the instructions, under Where To File.
The instructions say the entity should generally receive a determination within 60 days after filing, and that if it hears nothing within 2 months of the filing date, it should take follow-up action by calling the IRS number in the instructions. A longer period applies if box Q1 is checked.
The form includes a late election filed under Rev. Proc. 2013-30, and the instructions have a section on Relief for Late Elections. Read it, or ask a qualified adviser, to see if it fits.
The instructions say that once the election is made, it stays in effect until it is terminated or revoked.
