How to file Form 2553: S-Corp election deadlines and late relief

Updated October 22, 2026 · By the Solo Tax Optimizer team · Not tax advice

Form 2553, Election by a Small Business Corporation, is how an eligible corporation or LLC tells the IRS it wants to be taxed as an S-Corporation. Filing is simple, but the deadline is strict and the eligibility rules matter.

Who can elect S-Corp status?

To be eligible, the business must:

• Be a domestic corporation, or an LLC eligible to be taxed as a corporation.
• Have no more than 100 shareholders (family members can be counted as one).
• Have only allowable shareholders: generally individuals, certain trusts and estates, and certain tax-exempt organizations. Partnerships, corporations and nonresident aliens cannot be shareholders.
• Have only one class of stock. Differences in voting rights are allowed, but all shares must have identical rights to distributions and liquidation proceeds.
• Not be an ineligible type of company, such as certain banks and insurance companies.

The deadline

For the election to take effect for a tax year, file Form 2553:

• No more than 2 months and 15 days after the start of that tax year, or
• At any time during the previous tax year.

For an existing calendar-year business, that means by March 15 for the election to apply from January 1 of the same year. For a new business, the tax year starts on the date it first has shareholders, acquires assets or begins doing business, whichever comes first. The 2-month-and-15-day window runs from that date.

If you file after the deadline without asking for late-election relief, the election generally takes effect the following tax year instead.

How to fill out Form 2553

1. Part I: business name, address, EIN, date of incorporation or formation, state, and the date the election should take effect.
2. Tax year: most small businesses choose a calendar year ending December 31.
3. Shareholder consent: every shareholder at the time of the election must consent. Each lists their name, address, ownership and Social Security number, and signs. A spouse with a community property interest in the shares must also consent.
4. Officer signature: an authorized officer signs the form.
5. Parts II–IV apply only in special situations, such as choosing a fiscal year or electing for certain trusts.

You send the form to the IRS by mail or fax, at the address for your state listed in the instructions. Keep proof of the date you sent it. The IRS normally confirms the election with an acceptance letter (notice CP261). Keep this permanently, because banks and tax preparers often ask for it.

LLCs electing S-Corp status

By default, a single-member LLC is taxed as a sole proprietorship and a multi-member LLC as a partnership. An eligible LLC can file Form 2553 directly. Doing so also counts as electing to be treated as a corporation, so you normally do not need Form 8832 as well. See LLC vs S-Corp for the difference between the two.

Missed the deadline? Late election relief

The IRS offers simplified relief for late elections under Revenue Procedure 2013-30. You may qualify if:

• You request relief within 3 years and 75 days of the date you wanted the election to take effect.
• The only reason the election failed is that Form 2553 was not filed on time.
• You have reasonable cause for missing the deadline, and you explain it on the form.
• The business and shareholders have reported income consistently with S-Corp status. Additional requirements apply in some situations.

To request relief, write "FILED PURSUANT TO REV. PROC. 2013-30" at the top of Form 2553 and include your reasonable-cause statement. If you are past the 3-year-and-75-day window, a private letter ruling may be needed, which is much more expensive.

Before you file

Make sure the numbers work. An S-Corp election adds payroll, a corporate tax return and sometimes state taxes. Read when to elect S-Corp status and check what an S-Corp costs to run before committing. Once you revoke an election, you generally cannot re-elect for five years without IRS consent.

Frequently asked questions

This guide explains general federal tax rules for the 2026 tax year. It is not tax, legal or financial advice. Your situation may differ, so talk to a qualified tax professional before acting on it.