Form 2553 - Election by a Small Business Corporation

What the form is

Form 2553, Election by a Small Business Corporation, is the IRS form a corporation or an eligible entity files to elect S corporation status under section 1362 of the Internal Revenue Code. An S corporation generally does not pay federal income tax at the entity level. Its income, losses, deductions and credits pass through to the shareholders, who report them on their own returns. The form is also used for late elections made under Rev. Proc. 2013-30. The edition on the IRS site is Rev. December 2017, four pages long, with the shareholder consent section on page 2 and the fiscal year section on page 3. The IRS publishes line-by-line Instructions for Form 2553 and a Form 2553 page that lists the current revision.

Who typically needs it

The form is filed by owners of a newly formed corporation, by an existing C corporation that wants to switch, and by an LLC that has chosen to be taxed as a corporation. The IRS lists the eligibility tests under "Who May Elect" in the instructions, for example the limit of 100 shareholders. A tax professional can tell you whether the election suits your situation. This page only covers how to complete the paperwork.

What you need before you start

• The exact legal name and address of the corporation as they appear on its EIN record. If you do not have an EIN yet, the Form SS-4 guide explains that form.
• The date and state of incorporation.
• The date the election should take effect (item E) and the tax year you have selected (item F).
• The name, address, Social Security number or EIN, share count or ownership percentage, acquisition dates and tax year end of every shareholder.
• A signature from an authorized officer and from each shareholder who must consent.

How to fill it out online with PDF Editify

Open this page, click Fill Template Now, and the form opens in the editor with its fields ready to type into. Click a field, type, and move on. You can open the form without a card. Downloading the finished PDF needs a plan: One Week Plan at $3 one-time, Standard at $10 per month or $100 per year, or Lifetime from $99 one-time.

Part I, page 1: Election Information

• Name, address: enter the corporation's name, the street address, then city, state and ZIP.
• A, Employer identification number: the nine-digit EIN.
• B and C: the date incorporated and the state of incorporation.
• D: check the box only if the name or address changed after the EIN was issued.
• E, Effective date: the first day of the tax year the election applies to. The form warns that a corporation making the election for its first tax year usually enters the beginning date of a short tax year.
• F, Selected tax year: check calendar year, or a fiscal year ending in a month you specify. A fiscal year, or a 52-53-week year ending in a month other than December, means you also complete Part II.
• G: only used when more than 100 shareholders are listed and family members are counted as one.
• H: the name, title and phone number of an officer or representative the IRS may call.
• I: a late-election explanation. Leave it empty for a timely election.
• Signature of officer, Title, Date: see the signing section below.

Page 2: shareholders and consent

Columns J to N hold one row per shareholder: name and address (J), the signed consent statement (K), the number of shares or ownership percentage and acquisition dates (L), the SSN or EIN (M) and the shareholder's tax year end (N). If you need more rows, use additional copies of page 2, as the form notes.

Part II, page 3: fiscal tax year

Complete this part only if item F selected a fiscal year. Item O says whether the corporation is new, retaining or changing its year. Then complete one of item P (automatic approval under Rev. Proc. 2006-46), Q (business purpose, with the optional back-up section 444 election) or R (regular section 444 election). The instructions explain each item and any attachment.

Signing, and where and how to submit

An officer signs and dates the form under penalties of perjury, and every shareholder signs in column K. In PDF Editify you can draw, type or upload a signature and place it on the signature line, then download the PDF.

The IRS accepts the form by mail or fax, and some late elections can be attached to Form 1120-S. The address and fax number depend on the state of the corporation, so use the table in the instructions. Per the instructions, if you fax it, keep the original in the corporate records.

Deadlines and fees

Source: IRS Instructions for Form 2553, checked on 2 November 2026.

Common mistakes

• Missing a shareholder consent signature. The form states that all shareholders must sign.
• Entering a name or address that does not match the EIN record.
• Choosing a fiscal year in item F and then skipping Part II.
• Filing after the due date without including the late election statement in item I.
• Faxing the form and not keeping the original.