Form 2553, Election by a Small Business Corporation Instructions

Enter the exact legal name of the corporation or other eligible entity making this S corporation election, as shown on the entity’s formation documents or IRS records. This field is required.

Required. Enter the corporation’s street address—building number and street name—plus any room or suite number. If the corporation uses a P.O. box for mailing, enter the P.O. box number here instead of a street address.

Enter the city or town, state or province, country, and ZIP code (or foreign postal code) for the corporation’s address. For U.S. addresses, use the two-letter U.S. Postal Service state abbreviation and five-digit ZIP code (optionally ZIP+4). For non-U.S. addresses, enter the full country name and the postal code exactly as assigned. Required.

Enter the nine-digit Employer Identification Number assigned by the IRS. Enter only digits without spaces or hyphens (e.g., 123456789). This field is required.

Enter the date on which the corporation was legally incorporated. Provide month, day, and year in MM/DD/YYYY format (e.g., 07/01/2020).

Enter the U.S. state or foreign country where the corporation was legally incorporated. For a U.S. incorporation, use the two-letter U.S. Postal Service abbreviation (for example, CA for California). If incorporated outside the United States, enter the full name of the foreign country. This field is required.

Check this box if the corporation changed its name after applying for the EIN shown above.

Check this box if the entity changed its address after applying for its Employer Identification Number.

Enter the beginning date of the tax year for which this S corporation election is to be effective. Provide the month, day, and year in numeric format (MM-DD-YYYY).

Check this box when the entity chooses a January-to-December calendar year as its tax year for the election.

Check this box if you are selecting a fiscal tax year instead of the calendar year and will enter the month and day on which that fiscal year ends.

Enter the corporation’s fiscal year-end month and day in two-digit month/two-digit day format (MM/DD), for example, 06/30. Complete this field only if you checked the “Fiscal year ending (month and day)” box under Selected tax year.

Check this box when the entity is electing a 52-53-week tax year that ends with reference to December.

Check this box when electing a 52-53-week tax year that ends in a specific month (fill in the month you choose).

Enter the month (by name) on which your corporation’s 52-53-week tax year ends if you checked box (4) under “Selected tax year.” For example, enter “March” or “September.” This field is required only when box (4) in the Selected tax year section is checked.

Check this box if your corporation has more than 100 shareholders but grouping family members as a single shareholder brings the total to 100 or fewer.

Enter the full name and official title of the corporate officer or legal representative whom the IRS may call for more information. Use first and last name followed by a comma and the title (for example, “Jane A. Smith, President”). This field is required.

Enter the telephone number (including area code) of the officer or legal representative whom the IRS may call for more information. Format as ten digits with hyphens (XXX-XXX-XXXX), for example, 123-456-7890.

Enter a narrative explaining the reasons the S corporation election was not made on time and describing the diligent actions taken to correct the mistake upon discovery. Required only if this S corporation election is being filed late; otherwise leave blank. Provide your explanation as free-text with no special formatting.

Enter the third line of your explanation under Section I (“If this S corporation election is being filed late”), describing the reasons the election was not made on time and the steps you took to correct the mistake. Complete this field only if you are filing a late election. Use plain text within the space provided.

Enter a clear, detailed narrative explaining why the S corporation election was not filed by the due date, specifying each reason for the delay and describing the actions you took to correct the error. Only complete this field if you are filing Form 2553 after its prescribed deadline. Use the space provided and attach additional sheets if you need more room.

Enter the fourth line of your narrative explanation under Part I, item I (“If this S corporation election is being filed late…”). Provide the reason the S corporation election (or entity classification election) was not filed on time and describe the diligent actions you took to correct the mistake upon discovery. Only complete this field when filing Form 2553 late; otherwise leave it blank.

If you are filing your S corporation election late under Section I, enter on line 15 your explanation of the reasons the election was not made on time and the actions you took to correct the mistake upon discovery. Complete this field only when submitting a late election; use plain text with no special formatting.

Enter the sixth line of your narrative explanation in Section I (the area under “If this S corporation election is being filed late … See below for my explanation”). Provide the next portion of your reasons for filing late and the diligent corrective actions you took. Only complete this field if your explanation exceeds five lines in the Section I explanation area. Enter plain text; no special formatting required.

Enter the seventh line of your explanation of the reasons the S corporation election was not made on time and your description of the diligent actions taken to correct the mistake upon its discovery, as required in I. Complete this field only if you are filing Form 2553 late. No special formatting is needed.

Enter a detailed, free-form explanation of the reasons this S corporation election was not filed on time and a description of the actions you took to correct the mistake upon its discovery, as required in Item I. Complete this field only if you are filing this election late; otherwise leave it blank. You may attach additional sheets if needed.

Enter the eighth line of your explanation describing why you did not file Form 2553 on time and the corrective actions you took. Complete this field only if this S corporation election is being filed late; otherwise, leave it blank. No special formatting is required.

Enter the official title of the officer or legal representative signing the form under “Signature of officer” in the Sign Here section (for example, President, Vice President, Treasurer).

Enter the full legal name of the corporation electing S corporation status, exactly as it appears on Form 2553, including any punctuation and suffixes (for example, “Inc.” or “LLC”). This field is required.

Enter the corporation’s nine-digit Employer Identification Number assigned by the IRS. Required. Use the format XX-XXXXXXX (two digits, hyphen, seven digits).

Enter the full legal name and complete mailing address (street address, city, state, and ZIP code) of the first shareholder or former shareholder required to consent to the election. Include apartment or suite numbers if applicable. This entry is required in the “Name and address of each shareholder or former shareholder required to consent to the election” section.

Enter the legal signature of the first shareholder listed in the “Name and address of each shareholder or former shareholder required to consent to the election” field. This field is required whenever a first shareholder’s name is entered.

Enter the date the first shareholder signed the Shareholder’s Consent Statement in MM/DD/YYYY format.

For the first shareholder, enter the number of shares owned or the ownership percentage at the time of election. Use a whole number for shares (e.g., 100) or a percentage with the % symbol (e.g., 25%).

Enter the date(s) on which the first shareholder acquired the stock shown in "Stock owned or percentage of ownership." Use MM/DD/YYYY format, and if shares were acquired on more than one date, separate multiple dates with commas.

Enter the first shareholder’s nine-digit Social Security Number (for an individual) or Employer Identification Number (for an entity) exactly as shown on official documentation. Use the format XXX-XX-XXXX for SSN or XX-XXXXXXX for EIN. Enter this information for each shareholder listed in the Shareholder’s Consent Statement table.

Enter the shareholder’s tax year-end date as a two-digit month followed by a two-digit day (MMDD). For example, enter 1231 for December 31. This entry is required for each shareholder.

Enter the full legal name and complete mailing address of the second shareholder or former shareholder required to consent to the election (see instructions). Provide the name on the first line, street address on the second line, and city, state, and ZIP code on the third line. Complete this field only if you have a second shareholder; otherwise leave it blank.

Enter the handwritten signature of the second shareholder consenting to the election. Complete this field only if you have provided a second shareholder’s name and address in Name and address of each shareholder or former shareholder required to consent to the election. (see instructions)

Enter the total number of shares or the percentage of ownership held by the second shareholder listed under “Name and address of each shareholder or former shareholder required to consent to the election. (see instructions)”. If you enter a percentage, include the percent sign (for example, “25%”); if you enter a share count, use digits only (for example, “1000”).

Enter the date(s) the second shareholder acquired the shares reported in 'Number of shares or percentage of ownership', using MM/DD/YYYY format. Required for the second shareholder consenting to the election.

Enter the date or dates on which the second shareholder acquired shares of the corporation. Required for each shareholder listed in “Name and address of each shareholder or former shareholder required to consent to the election.” Enter each date in MM/DD/YYYY format; if shares were acquired on multiple dates, separate each entry with a comma, ensuring each date follows MM/DD/YYYY.

Enter the third shareholder’s nine-digit Social Security number in the format XXX-XX-XXXX or nine-digit employer identification number in the format XX-XXXXXXX. This field is required for the third shareholder listed in Name and address of each shareholder or former shareholder required to consent to the election (see instructions).

Enter the month and day on which the second shareholder’s tax year ends. Required for each listed shareholder. Use MM/DD format (for example, 12/31).

Enter the full legal name and mailing address of the third consenting shareholder or former shareholder. Include street address, city, state, and ZIP code on separate lines (line 1: name; line 2: street address; line 3: city, state, ZIP). If there is no third consenting shareholder, leave this field blank.

Enter the signature of the third consenting shareholder exactly as shown in the Shareholder’s Consent Statement. Only complete this field if a third shareholder is providing consent. No special formatting is required.

Enter the signature of the third shareholder listed in “Name and address of each shareholder required to consent to the election.” This field is required if you have a third shareholder. Sign exactly as the name appears in the “Name and address of each shareholder required to consent to the election” field for the third entry.

Enter the date or dates the third shareholder acquired the corporation’s stock. Provide each date in MM/DD/YYYY format. If there are multiple acquisition dates, list them separated by commas.

Enter the third shareholder’s nine-digit Social Security Number in XXX-XX-XXXX format or Employer Identification Number in XX-XXXXXXX format, including hyphens. Required for each shareholder listed under Name and address of each shareholder or former shareholder required to consent to the election (see instructions).

Enter the third shareholder’s nine-digit Social Security Number (SSN) if an individual, or nine-digit Employer Identification Number (EIN) if an entity, without dashes. This field is required for the third entry in “Name and address of each shareholder or former shareholder (see instructions).”

Enter the tax year-end date (month and day) for the third shareholder listed under Name and address of each shareholder required to consent to the election. Use two-digit month and two-digit day (MM-DD format).

Enter the full legal name and complete mailing address (street address, city, state, and ZIP code) of the fourth shareholder or former shareholder required to consent to the S corporation election. Only complete this field if you have a fourth consenting shareholder; otherwise leave it blank.

Enter the typed or handwritten full legal signature of the fourth shareholder listed in the "Name and address of each shareholder or former shareholder required to consent to the election" column. Complete this field only if a fourth shareholder is listed; otherwise leave blank.

Enter the number of shares or the percentage of ownership held by the fourth shareholder listed in “Name and address of each shareholder required to consent to the election (see instructions).” Required if you list a fourth shareholder. Use only digits and, if entering a percentage, include the percent sign (for example, 100 or 60%). Do not use commas or other symbols.

Enter the date or dates on which the fourth shareholder acquired the stock, using MM/DD/YYYY format. If there are multiple acquisition dates, list each date separated by commas.

Enter the date or dates on which the fourth shareholder acquired the stock, in MM/DD/YYYY format. If there are multiple acquisition dates, separate each date with a comma.

Enter the taxpayer identification number for the fourth consenting shareholder: if an individual, provide the nine-digit Social Security Number in the format XXX-XX-XXXX; if a business entity, provide the nine-digit Employer Identification Number in the format XX-XXXXXXX. Include hyphens as shown. This field is required for each shareholder listed under “Name and address of each shareholder or former shareholder required to consent to the election.”

Enter the fourth shareholder’s tax year-end date in month and day format (two-digit month, slash, two-digit day; e.g., 12/31). Only complete this field if you list a fourth shareholder under “Name and address of each shareholder or former shareholder required to consent to the election.”

Enter the fifth shareholder’s full legal name and complete mailing address—including street address or P.O. box, city, state, and ZIP code—in the “Name and address of each shareholder or former shareholder required to consent to the election (see instructions)” column. Complete this field only if you have a fifth consenting shareholder; otherwise leave it blank.

Enter the full legal name and complete mailing address (street address, city, state, and ZIP code) of the fifth shareholder or former shareholder required to consent to the election, as specified by Name and address of each shareholder or former shareholder required to consent to the election (see instructions). Complete this field only if there is a fifth consenting shareholder.

Enter the number of shares or percentage of ownership held by the fifth shareholder listed under Name and address of each shareholder or former shareholder required to consent to the election. If entering shares, omit commas (for example, 1000); if entering a percentage, include the % sign (for example, 25%). Complete this field only if you have listed a fifth shareholder.

Enter the number of shares or the percentage of ownership held by the fifth consenting shareholder named in “Name and address of each shareholder or former shareholder required to consent to the election (see instructions)”. If you enter a percentage, include the percent sign (for example, 25% or 33.3%). Only complete this field if a fifth shareholder is listed; otherwise leave it blank.

Enter the date or dates on which the fifth shareholder acquired their shares, using MM-DD-YYYY format.

Enter the fifth shareholder’s Social Security number (SSN) or employer identification number (EIN). For an SSN, enter nine digits with no dashes (e.g., 123456789); for an EIN, enter two digits, a hyphen, then seven digits (e.g., 12-3456789). This field is required for the fifth shareholder listed under “Name and address of each shareholder or former shareholder required to consent to the election (see instructions).”

Enter the month and day when the fifth shareholder’s tax year ends in MM-DD format (for example, December 31 as 12-31). This field is required for each shareholder listed under “Name and address of each shareholder or former shareholder required to consent to the election (see instructions).”

Enter the full legal name and complete mailing address (street address, city, state, and ZIP code) of the sixth shareholder (or former shareholder) required to consent to the election. Required only if you have a sixth consenting shareholder; otherwise, leave this field blank.

Enter a legible, handwritten signature of the sixth shareholder listed in the Name and address of each shareholder or former shareholder required to consent to the election. Required to certify consent under the Shareholder’s Consent Statement.

Enter the total number of shares or percentage of ownership for the sixth shareholder listed in “Name and address of each shareholder or former shareholder required to consent to the election.” If entering shares, use a whole number without commas; if entering a percentage, include the percent sign and round to up to three decimal places (for example, 25%, 12.345%). Complete this field only if a sixth shareholder is listed.

For the sixth shareholder listed in "Name and address of each shareholder or former shareholder required to consent to the election," enter the date or dates on which that shareholder acquired the shares or ownership interest you entered in "Number of shares or percentage of ownership." Use MM/DD/YYYY format and separate multiple dates with commas. Complete this field only if a sixth shareholder is listed.

For the sixth shareholder, enter the date or dates on which they acquired the shares reported in “Number of shares or percentage of ownership.” Use MM/DD/YYYY format for each date, and if there are multiple acquisition dates, separate them with commas. This field is required for each shareholder entry.

Enter the sixth shareholder’s nine-digit Social Security Number (format XXX-XX-XXXX) if an individual, or nine-digit Employer Identification Number (format XX-XXXXXXX) if an entity. This field is required for the shareholder listed under "Name and address of each shareholder or former shareholder required to consent to the election."

Enter the month and day on which the sixth shareholder’s tax year ends in MM/DD format (e.g., 12/31). Required for each shareholder listed under “Name and address of each shareholder or former shareholder required to consent to the election.”

Enter the full legal name and mailing address (street address, city, state, and ZIP code) of the seventh shareholder or former shareholder required to consent to the election, as shown under Name and address of each shareholder or former shareholder required to consent to the election. Complete this field only if you have a seventh consenting shareholder; otherwise leave it blank.

Enter the signature of the seventh shareholder listed in the “Name and address of each shareholder or former shareholder required to consent to the election (see instructions)” column. Complete only if there is a seventh consenting shareholder; leave blank otherwise.

Enter the number of shares or the percentage of ownership held by the seventh shareholder listed in Name and address of each shareholder or former shareholder required to consent to the election. Complete this field only if a seventh shareholder (or former shareholder) must consent to the election. For shares, enter a whole number; for percentage, enter the value followed by “%” (for example, 25%).

Enter the date or dates on which the seventh shareholder listed in “Name and address of each shareholder or former shareholder required to consent to the election (see instructions)” acquired the shares reported in “Stock owned or percentage of ownership (see instructions)”. Use MM/DD/YYYY format for each date, and separate multiple dates with commas. Required for each consenting shareholder.

Enter the date(s) when the seventh consenting shareholder acquired the shares or ownership percentage reported in Stock owned or percentage of ownership (see instructions). Required for each consenting shareholder. Use month, day, and year (MM/DD/YYYY); separate multiple dates with commas.

Enter the Social Security Number (for individuals) in XXX-XX-XXXX format or the Employer Identification Number (for entities) in XX-XXXXXXX format for the seventh consenting shareholder required to consent to the S corporation election.

Enter the tax year-end date for the seventh shareholder by providing the month and day in two-digit format (MM/DD). For example, enter December 31 as 12/31. This field is required for every shareholder listed under “Shareholder’s tax year ends (month and day).”

Enter the full legal name of the corporation, partnership, estate, trust, or other entity making the S-corporation election exactly as it appears on its federal income tax return (for example, Form 1120 or Form 1041). Required; do not enter a trade name or DBA.

Enter the corporation’s nine-digit Employer Identification Number (EIN) exactly as assigned by the IRS, using the hyphenated format (XX-XXXXXXX). This field is required.

Check this box when the corporation is newly formed and is adopting the fiscal tax year specified earlier on the form.

Check this box when the corporation already exists and wishes to continue using the tax year you reported earlier on the form.

Check this box when an existing corporation is changing its tax year to the one previously entered in the form.

Check this box if the corporation is using the automatic approval process to adopt, retain, or change to a tax year that qualifies as its natural business year, has attached the required gross-receipts schedule, and is eligible under the revenue procedure.

Check this box if you are using the automatic approval provisions to request a fiscal tax year based on the ownership tax year and represent that shareholders holding more than half of the corporation’s stock share that tax year and the corporation is eligible for that approval.

Check this box if you are requesting the fiscal year shown on the form based on a business purpose under the prior approval provisions of Rev. Proc. 2002-39, 2002-22 I.R.B. 1046 and will attach the required statement to Form 2553.

Check this box if you want to request a conference with the IRS National Office when the IRS proposes to disapprove the requested fiscal year under the prior approval provisions.

Check this box if you do not want a conference with the IRS National Office in the event the IRS proposes to disapprove the requested fiscal year.

Check this box when the corporation intends to make a back-up Section 444 election in the event its business purpose–based fiscal year request is not approved by the IRS.

Check this box when the corporation agrees to switch to a December 31 tax year if its business purpose request is denied and any backup election is unavailable or fails, so the IRS can accept its S corporation election.

Check this box if the corporation will, if qualified, make the election to use the fiscal tax year entered in item F by completing and filing Form 8716.

Check this box when the corporation agrees to adopt or change its tax year to December 31 if the IRS requires it in order to accept its section 444 election for S corporation status when the election is not otherwise qualified.

Enter the full legal name of the S corporation making this QSST election. Use the exact name as shown in the entity’s formation documents, without abbreviations or acronyms. This field is required.

Enter the nine-digit employer identification number (EIN) assigned by the IRS in the format XX-XXXXXXX (two digits, a hyphen, then seven digits). This field is required.

Enter the income beneficiary’s full legal name on the first line and the complete mailing address on the following lines (street address or P.O. box, city, state, and ZIP code). This field is required for the Qualified Subchapter S Trust (QSST) Election Under Section 1361(d)(2).

Enter the nine-digit Social Security Number of the income beneficiary named in the “Income beneficiary’s name and address” field. Use the format NNN-NN-NNNN (including hyphens). This field is required when completing Part III: Qualified Subchapter S Trust (QSST) Election Under Section 1361(d)(2).

Enter the date on which the corporation’s stock was transferred to the trust in month, day, year format (MM/DD/YYYY). For example, enter 03/15/2022.

Enter the nine-digit Employer Identification Number (EIN) assigned to the trust by the IRS. Include only numeric digits without dashes or spaces. This field is required when completing Part III, Qualified Subchapter S Trust (QSST) Election Under Section 1361(d)(2).

Enter the date on which the stock of the S corporation was transferred to the trust, using month/day/year format (MM/DD/YYYY).