Schedule B-1 (Form 1120s) - Information On Certain Shareholders Of An S Corporation Page 2
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Schedule B-1 (Form 1120S) (Rev. 12-2016)
Page
General Instructions
Specific Instructions
Section references are to the Internal Revenue Code unless
Column (a)
otherwise noted.
Enter the name of the shareholder (owner) of record in column
Future Developments
(a). For example:
For the latest information about developments related to
• If a disregarded entity (for example, a single member limited
Schedule B-1 (Form 1120S) and its instructions, such as
liability company (LLC) that did not elect to be taxed as a
legislation enacted after they were published, go to
corporation for federal income tax purposes) is the shareholder
(owner) of record, enter the name of the disregarded entity.
• If a nominee or similar person (for example, a guardian,
Purpose of Form
custodian, or agent) is the shareholder (owner) of record, enter
Use Schedule B-1 (Form 1120S) to provide the information
the name of the nominee or similar person.
applicable to any shareholder in the S corporation that was a
Column (c)
disregarded entity, a trust, an estate, or a nominee or similar
person at any time during the tax year.
Enter the type of shareholder (owner) of record. For example,
If the shareholder was a disregarded entity, provide the
the shareholder (owner) of record may be a disregarded entity,
information even if the name, address, and social security
trust, estate, nominee, guardian, custodian, agent, or similar
number (SSN) or employer identification number (EIN) (if any) of
person.
the owner of the disregarded entity was entered on Schedule
Column (d)
K-1 (Form 1120S), Shareholder's Share of Income, Deductions,
Credit, etc. If the shareholder was a nominee, guardian,
Enter the name and SSN or EIN (if any) of the individual or entity
custodian, or agent, provide the information even if the name,
responsible for reporting shareholder's income, deductions,
address, and SSN or EIN (if any) of the person for whom the
credits, etc., from Schedule K-1 (Form 1120S). For example:
stock was held was entered on Schedule K-1 (Form 1120S).
1. If a disregarded entity is the shareholder (owner) of record,
Who Must File
the owner of the disregarded entity must be eligible to be an
S corporation shareholder. Enter the name and SSN or EIN (if
Schedule B-1 (Form 1120S) must be filed by all S corporations
any) of the owner. For example, if a single member LLC owns
that answer “Yes” to Form 1120S, Schedule B, question 3.
stock in the corporation, and the LLC is treated as a
Attach Schedule B-1 to Form 1120S.
disregarded entity for federal income tax purposes, enter the
member's name and SSN or EIN (if any). An LLC that elects to
be treated as a corporation for federal income tax purposes is
not eligible to be an S corporation shareholder.
2. If a trust is the shareholder (owner) of record, the information
entered in column (d) is dependent on the type of trust.
a. If the trust is a grantor trust, the grantor must be an
individual. Enter the name and SSN of the grantor.
b. If the trust is a qualified subchapter S trust (QSST), there
can only be one beneficiary, who must be an individual. Enter
the name and SSN of the individual beneficiary.
c. If the trust is an electing small business trust (ESBT), enter
the information you entered under columns (a) and (b). Do not
enter any beneficiary information.
3. If an estate is the shareholder (owner) of record, enter the
information you entered under columns (a) and (b). Do not enter
any beneficiary information.
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