Form 2553 Generator by Jotform
Ready to become an S corp? Small business owners use Form 2553 to elect S corporation tax status. Fill out Form 2553 online for free with Jotform, gather the shareholder details you need, and download the finished PDF.
Shareholder information stays secure
Form 2553 asks for Social Security numbers and ownership details for every shareholder. Jotform protects that data with 256-bit SSL encryption and GDPR and CCPA friendly features, and you can switch on encrypted forms for more security.
Complete your election anywhere
Fill out Form 2553 on a computer, tablet, or phone. The form is fully responsive, so you can add shareholder details or double-check dates from wherever you are.
Fewer steps to a signed election
Jotform walks you through the corporation's details, the effective date, and shareholder consents one field at a time. When everything's filled in, download your Form 2553 as a PDF, ready to sign.
A PDF that matches the original
Your entries are converted back into the official Form 2553 layout, including the shareholder consent columns. The result looks just like the IRS form, so there are no surprises when you file.
FAQ
What does Form 2553 do?
Form 2553, Election by a Small Business Corporation, lets an eligible corporation or LLC choose to be taxed as an S corporation. S corporations generally don't pay federal income tax at the entity level. Instead, income, losses, deductions, and credits pass through to shareholders, who report them on their own returns.
Which businesses can elect S corporation status?
The business must be a domestic corporation, or an entity eligible to be treated as one, with no more than 100 shareholders and only one class of stock. Shareholders generally must be individuals, certain trusts, or estates. Partnerships, corporations, and nonresident aliens can't be shareholders.
When should I file Form 2553?
For the election to take effect in the current tax year, file no more than 2 months and 15 days after that tax year begins. You can also file any time during the year before the election should take effect. If you miss the deadline, the instructions explain how to request late election relief.
Do all shareholders need to sign Form 2553?
Yes. Every shareholder at the time of the election must consent, either in the consent column on the form or on a separate consent statement. If the election is filed during the tax year it's meant to cover, people who held shares earlier in that year also need to consent. In community property states, a spouse with a community interest in the stock has to consent too.
How do I fill out Form 2553?
Part I asks for the corporation's name, address, EIN, date and state of incorporation, the tax year the election should start, and an officer's signature. It also lists each shareholder with their consent, number of shares or ownership percentage, the date the shares were acquired, their identifying number, and their tax year end.
Fill out Part II only if you're choosing a fiscal tax year, Part III for a qualified subchapter S trust (QSST) election, and Part IV only if you're requesting late corporate classification relief.
Does an LLC need to file Form 8832 before Form 2553?
Usually not. 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 generally isn't needed.
Can I file Form 2553 through Jotform?
Jotform helps you fill out Form 2553 for free and download a completed PDF, but it doesn't send the form to the IRS. After it's signed, mail or fax it to the IRS as the form instructions describe. The IRS will let you know whether the election was accepted.
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