Instructions For Form 2553 - Election By A Small Business Corporation (Page 3 of 6) in pdf

1. The entity is an eligible entity as defined in Regulations

If the corporation's principal

section 301.7701-3(a) (see Purpose of Form in the Form

Use the following

business, office, or agency is

8832 instructions).

address or fax number:

located in:

2. The entity intended to be classified as an S

corporation as of the date entered on line E of Form 2553.

Connecticut, Delaware,

3. Form 2553 will be filed within 3 years and 75 days of

District of Columbia, Florida,

the date entered on line E of Form 2553.

Indiana, Maine, Maryland,

Department of the Treasury

Massachusetts, New

Internal Revenue

4. The entity failed to qualify as a corporation solely

Hampshire, New Jersey, New

Service Center

because Form 8832 wasn’t timely filed under Regulations

York, North Carolina, Ohio,

Cincinnati, OH 45999

section 301.7701-3(c)(1)(i) (see When To File in the Form

Pennsylvania, Rhode Island,

Fax: (855) 270-4081

8832 instructions), or Form 8832 wasn’t deemed to have

South Carolina, Vermont,

been filed under Regulations section 301.7701-3(c)(1)(v)(C)

(see Who Must File in the Form 8832 instructions).

Virginia, West Virginia

5. The entity fails to qualify as an S corporation (see

Who

Georgia, Illinois, Kentucky,

Department of the Treasury

May

Elect, earlier) on the effective date entered on line E of

Michigan, Tennessee, Wisconsin

Internal Revenue

Form 2553 because Form 2553 wasn’t filed by the due date

Service Center

(see

When To Make the

Election, earlier).

Kansas City, MO 64999

6. The entity either:

Fax: (855) 887-7734

a. Timely filed all Forms 1120S consistent with its

Alabama, Alaska, Arizona,

requested classification as an S corporation, or

Arkansas, California, Colorado,

b. Didn’t file Form 1120S because the due date for the

Hawaii, Idaho, Iowa, Kansas,

first year's Form 1120S hasn’t passed.

Department of the Treasury

Louisiana, Minnesota,

Internal Revenue

7. The entity has reasonable cause for its failure to timely

Mississippi, Missouri, Montana,

Service Center

file Form 2553 and has acted diligently to correct the mistake

Nebraska, Nevada, New

Ogden, UT 84201

upon discovery of its failure to timely file Form 2553.

Mexico, North Dakota,

Fax: (855) 214-7520

8. The S corporation can provide statements from all

Oklahoma, Oregon, South

shareholders who were shareholders during the period

Dakota, Texas, Utah,

between the date entered on line E of Form 2553 and the

Washington, Wyoming

date the completed Form 2553 is filed stating that they have

reported their income on all affected returns consistent with

the S corporation election for the year the election should

Acceptance or Nonacceptance of

have been made and all subsequent years. Completion of

Election

Form 2553, Part I, column K, Shareholder's Consent

Statement (or similar document attached to Form 2553), will

The service center will notify the corporation if its election is

meet this requirement.

accepted and when it will take effect. The corporation will

To request relief for a late election when the above

also be notified if its election isn’t accepted. The corporation

requirements aren’t met, the entity generally must request a

should generally receive a determination on its election within

private letter ruling and pay a user fee in accordance with

60 days after it has filed Form 2553. If box Q1 in Part II is

Rev. Proc. 2017-1 (or its successor).

checked, the corporation will receive a ruling letter from the

IRS that either approves or denies the selected tax year.

Where To File

When box Q1 is checked, it will generally take an additional

Generally, send the original election (no photocopies) or fax it

90 days for the Form 2553 to be accepted.

to the Internal Revenue Service Center listed below. If the

Care should be exercised to ensure that the IRS receives

corporation files this election by fax, keep the original Form

the election. If the corporation isn’t notified of acceptance or

2553 with the corporation's permanent records. However,

nonacceptance of its election within 2 months of the date of

certain late elections can be filed attached to Form 1120S.

filing (date faxed or mailed), or within 5 months if box Q1 is

See

Relief for Late

Elections, earlier.

checked, take follow-up action by calling 1-800-829-4933.

To find the latest mailing address or fax number for

If the IRS questions whether Form 2553 was filed, an

filing Form 2553, go to IRS.gov and enter "Where to

TIP

acceptable proof of filing is:

file Form 2553" in the search box.

A certified or registered mail receipt (timely postmarked)

from the U.S. Postal Service, or its equivalent from a

Private delivery services. You can use certain private

designated private delivery service (see Notice 2016-30,

delivery services (PDS) designated by the IRS to file this

2016-18 I.R.B. 676, available at

election. Go to

IRS.gov/PDS

for the current list of designated

IRS.gov/irb/2016-18_IRB#NOT-2016-30

(or its successor));

services.

Form 2553 with an accepted stamp;

The PDS can tell you how to get written proof of the

Form 2553 with a stamped IRS received date; or

mailing date.

An IRS letter stating that Form 2553 has been accepted.

For the IRS mailing address to use if you’re using PDS, go

IRS.gov/PDSstreetAddresses.

-3-

Instructions For Form 2553 - Election By A Small Business Corporation Page 3

Related Articles

Related forms

Related Categories