# Form 2553

URL: https://pdf.net/pdf-forms/tax-forms/form-2553
Category: Tax Forms
Attributes: Official IRS form, Trusted by accountants

IRS Form 2553 is used by qualifying small business corporations and LLCs to make an election under Section 1362(a) to be an S corporation.

With our editable Form 2553, you can easily fill out the designated fields online and download it to your device, all in a few clicks.

## Versions

- 2017 — [download PDF](https://cdn.sanity.io/files/i16te7yp/production/90de1282e818c1d29ed6763c93c092fa29e1a86e.pdf)

## How to Fill Out Form 2553

1. Open Form 2553 in our PDF editor.
2. Enter the entity’s information (name, address, EIN) and select the tax year from which the election is valid.
3. Provide a reason for late filing if applicable.
4. Complete Part I with shareholders’ information and consent according to the Form 2553 instructions.
5. Complete Parts II and III if you’re making a fiscal tax year selection or a qualified subchapter S trust (QSST) election.
6. Sign the form and submit it to the IRS.

## Facts

### What Is Form 2553 Used For?

Form 2553 is used to make an election to be treated and taxed as an S corporation instead of a C corporation or LLC. When an entity is classified as an S corporation, its taxes pass directly to the shareholders, who must report them on their individual income returns. This is done to avoid double taxation.

Keep in mind that all shareholders of the corporation must sign the consent statement in Part I. The election is invalid if any shareholder fails to provide consent.

### Who Should Use Form 2553?

Form 2553 should be used by businesses that wish to be taxed as S corporations and meet the following criteria:

- They are a domestic corporation or entity with no more than 100 shareholders.
- Their shareholders are individuals, estates, and exempt organizations, not partnerships or other corporations.
- They don’t have foreign nonresident shareholders.
- They have only one class of stock.
- They are not banks, insurance companies, or domestic international sales corporations.

For more information on the criteria and requirements, check the official IRS website.

### When Is Form 2553 Due?

Form 2553 is due two months and 15 days after the beginning of the tax year in which the election is to take effect. Furthermore, you can make an election and file the return at any time in the tax year prior to the one when it should take effect.

In other words, if your corporation’s tax year begins on January 1st, and you wish to make an S corporation election, you should file Form 2553 by March 15th. You can also do it at any point before January 1st.

### What Happens If Form 2553 Is Not Submitted?

If Form 2553 isn’t submitted, the entity keeps the original classification and isn’t treated as an S corporation for taxing purposes. However, it’s possible to still make an election even if you’ve missed the Form 2553 deadline, as long as you can provide a reasonable explanation for the delay.

### How and Where Do I File Form 2553?

You should file Form 2553 with the IRS, using one of the addresses provided on the official website. When requesting a late election relief, you may attach it to Form 1120-S and submit these two together. Keep in mind that you can’t e-file Form 2553; you can only mail or fax it.

## Related forms

- [Form 1120](https://pdf.net/pdf-forms/business-forms/form-1120)
- [Form 1065](https://pdf.net/pdf-forms/tax-forms/form-1065)
- [Form 7004](https://pdf.net/pdf-forms/tax-forms/form-7004)
- [Form 941](https://pdf.net/pdf-forms/tax-forms/941-form)
- [940 Form](https://pdf.net/pdf-forms/tax-forms/form-940)