← Back to Calculator

How to File IRS Form 2553 for S-Corp Election

Updated March 2026 · 7 min read

Form 2553 ("Election by a Small Business Corporation") is the single form you need to file with the IRS to elect S-Corp tax status for your LLC or corporation. It's a one-page form, you file it once, and it can save you thousands every year. Here's exactly how to do it.

Step 1: Check Eligibility

Before filing, make sure your business meets all the IRS requirements for S-Corp status:

• Domestic entity — Must be formed in the United States
• Eligible shareholders — Only individuals, certain trusts, and estates (no partnerships, corporations, or non-resident aliens)
• 100 or fewer shareholders — Most single-member LLCs easily qualify
• One class of stock — All shareholders must have the same rights to distributions and proceeds
• Not an ineligible corporation — Cannot be a bank, insurance company, or DISC

Step 2: Know the Deadline

This is where most people trip up. Form 2553 must be filed:

• Within 2 months and 15 days of the beginning of the tax year you want the election to take effect, OR
• At any time during the preceding tax year

For calendar-year businesses, this means filing by March 15 to have the election take effect for that same year. If you miss the deadline, the election will apply to the following year.

Missed the Deadline?

Don't panic. The IRS provides late election relief under Revenue Procedure 2013-30. If you meet these conditions, the IRS will usually accept a late filing:

1. The entity intended to be classified as an S-Corp as of the desired effective date
2. The entity failed to qualify solely because the election was not timely filed
3. The entity has reasonable cause for missing the deadline
4. Less than 3 years and 75 days have passed since the desired effective date

Step 3: Fill Out Form 2553

Form 2553 has two main parts:

Part I: Election Information

• Box A — Your business name and EIN
• Box E — Date incorporated or LLC formation date
• Box F — Number of shares issued (for LLCs, enter "N/A" or "membership units")
• Box H — Desired effective date of the S-Corp election
• Box I — The tax year ending (usually "December 31")
• Shareholder consent — Each shareholder must sign, providing their SSN, share count, and tax year

Part II: Selection of Fiscal Tax Year (Most Skip This)

If you use a calendar year (January 1 - December 31), you can skip Part II entirely. Most single-member LLCs use a calendar year.

Step 4: Submit to the IRS

You can submit Form 2553 by fax or mail. The IRS processes faxed forms faster (usually 60 days vs. 90+ days by mail).

Where you send it depends on your state. The IRS has two processing centers:

IRS Center	States	Fax Number
Kansas City, MO	CT, DE, DC, FL, GA, IL, IN, KY, ME, MD, MA, MI, NH, NJ, NY, NC, OH, PA, RI, SC, TN, VT, VA, WV, WI	855-887-7734
Ogden, UT	AL, AK, AZ, AR, CA, CO, HI, ID, IA, KS, LA, MN, MS, MO, MT, NE, NV, NM, ND, OK, OR, SD, TX, UT, WA, WY	855-214-7520

Step 5: Wait for Confirmation

After filing, the IRS will send you a CP261 Notice confirming your S-Corp election. This typically arrives within 60 days. If you don't receive it:

• Call the IRS Business line at 1-800-829-4933
• Have your EIN ready
• They can confirm your election status over the phone

Common Mistakes to Avoid

• Missing the deadline — Mark March 15 on your calendar!
• Wrong EIN — Double-check your Employer Identification Number
• Missing shareholder signatures — ALL shareholders must sign, even spouses who own shares
• Wrong effective date — Make sure the date aligns with the beginning of a tax year
• Not keeping proof of filing — Always save your fax confirmation or certified mail receipt