Government forms

Form 2553: Election by a Small Business Corporation

Elects S corporation tax status for an eligible corporation or LLC. Income then generally passes through to shareholders and isn't taxed at the corporate level.

Rev. December 2017

Source: Internal Revenue Service (IRS)

Use this template

Easy PDF filling and editing

Fill out forms in your browser without installing software
Files are processed on our own server and not shared with third parties
Instant export of the completed document in PDF format

Instructions for filling out Form 2553: Election by a Small Business Corporation

This template is used for official filing and documentation. Below are detailed instructions for completing, requirement details, and submission rules.

Who needs to fill out this document?

This form is designed for use by legal entities, individuals, or authorized representatives in the following cases:

New corporations choosing S corp status.
LLC owners who want S corp taxation to reduce self-employment tax.
Accountants filing elections for clients.

What you will need before starting

Before filling out the interactive form, prepare the following details and documents:

1. Company informationName, EIN, address, date and state of incorporation.

2. Effective dateThe tax year the election should start.

3. Shareholder consentsName, address, shares, ID and signature for every shareholder.

4. Tax yearCalendar year or an approved fiscal year.

Step-by-step filling process

Confirm eligibility: Domestic, 100 or fewer eligible shareholders, one class of stock.
Complete Part I: Enter entity details, effective date and shareholder consents.
Complete Parts II-IV if needed: Fiscal year selection, QSST elections or late-election relief.
File on time: No more than 2 months and 15 days after the start of the tax year the election takes effect.

Frequently Asked Questions (FAQ)

Does my LLC need Form 8832 first?

No. An eligible LLC that files a timely Form 2553 is treated as electing corporate status too.

What if I filed late?

You may qualify for late-election relief by completing the reasonable cause statement under Rev. Proc. 2013-30.

Must every shareholder sign?

Yes. All shareholders at the time of the election must consent.

Ready to fill out Form 2553: Election by a Small Business Corporation?

Open the editor, enter the required details, and download your document in a couple of minutes.

Proceed to fill out →

Related templates