Form 2553, Election by a Small Business Corporation

What is Form 2553?

Form 2553 is the IRS Election by a Small Business Corporation.

A corporation or other entity eligible to be treated as a corporation files it to elect under section 1362(a) to be an S corporation.

A corporation or other entity eligible to elect to be treated as a corporation may elect S corporation status only if it meets all the tests in Who May Elect.

How the IRS accepts Form 2553

Generally, the instructions say to send the original election (no photocopies) or fax it to the IRS Service Center, although certain late elections can be attached to Form 1120-S.

If faxed, keep the original with the corporation’s or entity’s permanent records.

For C corporations changing to S corporation filing status, the IRS filing-status page says to file a paper copy, and requires PDF format named "Form2553.pdf" if submitted with a timely e-filed return.

Form 2553 must be signed and dated by an officer specified in the instructions or another authorized corporate officer, and each shareholder consents by signing and dating in column K or on a separate consent statement; the form points to the IRS Form 2553 page for instructions and the latest information.

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