Federal Election by a Small Business Corporation
Extracted from PDF file 2019-federal-form-2553.pdf, last modified June 2019
Election by a Small Business CorporationNote: Form 2553 begins on the next page. Where To File Form 2553 after 6/17/19 If the corporation’s principal business, office, or agency is located in Use the following address or fax number Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, Wisconsin Department of the Treasury Internal Revenue Service Kansas City, MO 64999 Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming Department of the Treasury Internal Revenue Service Ogden, UT 84201 Fax # 855-887-7734 Fax # 855-214-7520 Form 2553 Election by a Small Business Corporation (Under section 1362 of the Internal Revenue Code) (Including a late election filed pursuant to Rev. Proc. 2013-30) (Rev. December 2017) Department of the Treasury Internal Revenue Service ▶ OMB No. 1545-0123 ▶ You can fax this form to the IRS. See separate instructions. Go to www.irs.gov/Form2553 for instructions and the latest information. 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 Type or Print D E F G H I Election Information Name (see instructions) A Employer identification number Number, street, and room or suite no. If a P.O. box, see instructions. B Date incorporated City or town, state or province, country, and ZIP or foreign postal code C State of incorporation Check the applicable box(es) if the corporation (entity), after applying for the EIN shown in A above, changed its 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. 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. name or address If more than 100 shareholders are listed for item J (see page 2), check this box if treating members of a family as one shareholder results in no more than 100 shareholders (see test 2 under Who May Elect in the instructions) ▶ Name and title of officer or legal representative whom the IRS may call for more information Telephone number of officer or legal representative 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. ▲ Sign Here 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. Signature of officer For Paperwork Reduction Act Notice, see separate instructions. Title Date Cat. No. 18629R Form 2553 (Rev. 12-2017) Form 2553 (Rev. 12-2017) Page Part I 2 Employer identification number Name Election Information (continued) Note: If you need more rows, use additional copies of page 2. J Name and address of each shareholder or former shareholder required to consent to the election. (see instructions) 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 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. 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 affected returns consistent with the S corporation election for the year for which the election should have been filed (see beginning date entered on line E) and for all subsequent years. Signature Date L Stock owned or percentage of ownership (see instructions) Number of shares or percentage of ownership Date(s) acquired M Social security N number or employer Shareholder’s identification tax year ends (month and number (see day) instructions) Form 2553 (Rev. 12-2017) Form 2553 (Rev. 12-2017) Page 3 Employer identification number Name 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. An existing corporation retaining the tax year entered in item F, Part I. 2. 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. I represent that the corporation is adopting, retaining, or changing to a tax year that qualifies 1. Natural Business Year ▶ 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. I represent that shareholders (as described in section 5.08 of Rev. Proc. 2006-46) holding more 2. Ownership Tax Year ▶ 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. to show that the corporation will make, if qualified, a section 444 election to have the fiscal tax year 1. Check here ▶ 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. Form 2553 (Rev. 12-2017) Form 2553 (Rev. 12-2017) Page 4 Employer identification number Name 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. Form 2553 (Rev. 12-2017)
Form 2553 (Rev. December 2017)
More about the Federal Form 2553 Corporate Income Tax
We last updated the Election by a Small Business Corporation in February 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Federal Internal Revenue Service. You can print other Federal tax forms here.
Other Federal Corporate Income Tax Forms:
|Form Code||Form Name|
|1120-S (Schedule K-1)||Shareholder’s Share of Income, Deductions, Credits, etc.|
|Form 1095-B||Health Coverage|
|Form 9452||Filing Assistance Program|
|Form 944||Employer's Annual Federal Tax Return|
|Form 1125-A||Cost of Goods Sold|
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 2553 from the Internal Revenue Service in February 2020.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 2553
We have a total of seven past-year versions of Form 2553 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
Form 2553 (Rev. December 2017)
Form 2553 (Rev. December 2017)
Form 2553 (Rev. December 2017)
Form 2553 (Rev. December 2013)
Form 2553 (Rev. December 2013)
Form 2553 (Rev December 2007)
Form 2553 (Rev December 2007)
While we do our best to keep our list of Federal Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.