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Form 2553: How to Elect S Corporation Status
Last updated October 27, 2026
Quick answer
Form 2553 is how a corporation — or an LLC electing corporate treatment — chooses S corporation status, so income and losses pass through to shareholders. It must be filed no later than 2 months and 15 days after the start of the tax year it should apply to (March 15 for calendar-year companies), or at any time in the preceding year. Every shareholder must consent. Nonresident aliens cannot be S corporation shareholders, so a company with a foreign individual owner does not qualify.
Free to start — you only pay when you download or file.
Who needs Form 2553
• U.S. corporations that want pass-through S corporation taxation
• LLCs that want to be taxed as an S corporation
• Only if all shareholders are eligible — U.S. citizens or residents, certain trusts and estates
Form 2553 at a glance
Deadline
Within 2 months and 15 days of the start of the tax year — March 15 for calendar-year companies
Shareholders
No more than 100, all eligible; nonresident aliens are not allowed
Stock
Only one class of stock
Consent
Every shareholder must sign the consent statement
Late election
Relief may be available with reasonable cause
How to file Form 2553
1. Check eligibility
The company must be a domestic corporation or LLC with no more than 100 eligible shareholders, one class of stock and no nonresident alien owners.
2. Choose the effective tax year
Make sure you are within the filing window: 2 months and 15 days from the start of that tax year, or any time in the year before.
3. Complete the company and shareholder details
Name, EIN, address, date of incorporation, tax year and, for each shareholder, ownership and identification details.
4. Collect every shareholder’s consent
Each shareholder (and spouse in community-property states) signs the consent section.
5. Send it to the IRS
File it with the IRS by fax or mail and keep the IRS acceptance letter.
Form 2553: frequently asked questions
Can a foreign-owned company be an S corporation?
Not if any shareholder is a nonresident alien or a foreign company. S corporation shareholders must be U.S. citizens or residents, certain trusts, or estates.
When is Form 2553 due?
No later than 2 months and 15 days after the beginning of the tax year the election is to take effect — March 15 for a calendar-year company — or at any time during the preceding tax year.
Does an LLC need Form 8832 before Form 2553?
No. An eligible LLC that files a timely Form 2553 is treated as also electing to be taxed as a corporation, so a separate Form 8832 is not required.
What if I filed Form 2553 late?
The IRS offers late-election relief if you had reasonable cause and meet certain conditions; the explanation is included on the form itself.
Related guides
Form 8832 vs Form 2553: Choosing Your Entity’s Tax ClassificationForm 8832: Choosing How Your LLC Is TaxedHow to Get an EIN Without an SSN (Form SS-4)This guide is general information about IRS requirements, not tax or legal advice. Rules and amounts can change — check the current IRS instructions or a tax professional for your situation. How we write our guides