Instructions for Form 2553

(Rev. December 2020)

(For use with the December 2017 revision of Form 2553, Election by a Small 

Business Corporation)

Department of the Treasury

Internal Revenue Service

Section references are to the Internal Revenue Code unless 

otherwise noted.

Future Developments

For the latest information about developments related to 

Form 2553 and its instructions, such as legislation enacted 

after they were published, go to IRS.gov/Form2553.

General Instructions

Purpose of Form

A corporation or other entity eligible to elect to be treated as 

a corporation must use Form 2553 to make an election under 

section 1362(a) to be an S corporation. An entity eligible to 

elect to be treated as a corporation that meets certain tests 

discussed below will be treated as a corporation as of the 

effective date of the S corporation election and doesn’t need 

to file Form 8832, Entity Classification Election.

The income of an S corporation generally is taxed to the 

shareholders of the corporation rather than to the corporation 

itself. However, an S corporation may still owe tax on certain 

income. For details, see Tax and Payments in the 

Instructions for Form 1120-S, U.S. Income Tax Return for an 

S Corporation.

Who May Elect

A corporation or other entity eligible to elect to be treated as 

a corporation may elect to be an S corporation only if it meets 

all the following tests.

1. It is (a) a domestic corporation, or (b) a domestic entity 

eligible to elect to be treated as a corporation, that timely files 

Form 2553 and meets all the other tests listed below. If Form 

2553 isn’t timely filed, see Relief for Late Elections, later.

2. It has no more than 100 shareholders. You can treat 

an individual and his or her spouse (and their estates) as one 

shareholder for this test. You can also treat all members of a 

family (as defined in section 1361(c)(1)(B)) and their estates 

as one shareholder for this test. For additional situations in 

which certain entities will be treated as members of a family, 

see Regulations section 1.1361-1(e)(3)(ii). All others are 

treated as separate shareholders. For details, see section 

1361(c)(1).

3. Its only shareholders are individuals, estates, exempt 

organizations described in section 401(a) or 501(c)(3), or 

certain trusts described in section 1361(c)(2)(A).

For information about the section 1361(d)(2) election to be 

a qualified subchapter S trust (QSST), see the instructions 

for Part III. For information about the section 1361(e)(3) 

election to be an electing small business trust (ESBT), see 

Regulations section 1.1361-1(m). For guidance on how to 

convert a QSST to an ESBT, see Regulations section 

1.1361-1(j)(12). If these elections weren’t timely made, see 

Rev. Proc. 2013-30, 2013-36 I.R.B. 173, available at 

IRS.gov/irb/2013-36_IRB#RP-2013-30.

4. It has no nonresident alien shareholders (other than as 

potential current beneficiaries of an ESBT).

5. It has only one class of stock (disregarding differences 

in voting rights). Generally, a corporation is treated as having 

only one class of stock if all outstanding shares of the 

corporation's stock confer identical rights to distribution and 

liquidation proceeds. See Regulations section 1.1361-1(l) for 

details.

6. It isn’t one of the following ineligible corporations.

a. A bank or thrift institution that uses the reserve method 

of accounting for bad debts under section 585.

b. An insurance company subject to tax under 

subchapter L of the Code.

c. A domestic international sales corporation (DISC) or 

former DISC.

7. It has or will adopt or change to one of the following tax 

years.

a. A tax year ending December 31.

b. A natural business year.

c. An ownership tax year.

d. A tax year elected under section 444.

e. A 52-53-week tax year ending with reference to a year 

listed above.

f. Any other tax year (including a 52-53-week tax year) 

for which the corporation (entity) establishes a business 

purpose.

For details on making a section 444 election or requesting 

a natural business, ownership, or other business purpose tax 

year, see the instructions for Part II.

8. Each shareholder consents as explained in the 

instructions for column K.

See sections 1361, 1362, and 1378, and their related 

regulations for additional information on the above tests.

A parent S corporation can elect to treat an eligible wholly 

owned subsidiary as a qualified subchapter S subsidiary. If 

the election is made, the subsidiary's assets, liabilities, and 

items of income, deduction, and credit generally are treated 

as those of the parent. For details, see Form 8869, Qualified 

Subchapter S Subsidiary Election.

When To Make the Election

Complete and file Form 2553:

• No more than 2 months and 15 days after the beginning of 

the tax year the election is to take effect, or

• At any time during the tax year preceding the tax year it is 

to take effect.

For this purpose, the 2-month period begins on the day of 

the month the tax year begins and ends with the close of the 

day before the numerically corresponding day of the second 

calendar month following that month. If there is no 

Aug 05, 2020 Cat. No. 49978N
corresponding day, use the close of the last day of the 

calendar month.

Example 1. No prior tax year. A calendar year small 

business corporation begins its first tax year on January 7. 

The 2-month period ends March 6 and 15 days after that is 

March 21. To be an S corporation beginning with its first tax 

year, the corporation must file Form 2553 during the period 

that begins January 7 and ends March 21. Because the 

corporation had no prior tax year, an election made before 

January 7 won’t be valid.

Example 2. Prior tax year. A calendar year small business 

corporation has been filing Form 1120 as a C corporation but 

wishes to make an S election for its next tax year beginning 

January 1. The 2-month period ends February 28 (29 in leap 

years) and 15 days after that is March 15. To be an S 

corporation beginning with its next tax year, the corporation 

must file Form 2553 during the period that begins the first day 

(January 1) of its last year as a C corporation and ends 

March 15th of the year it wishes to be an S corporation. 

Because the corporation had a prior tax year, it can make the 

election at any time during that prior tax year.

Example 3. Tax year less than 21/2 months. A calendar 

year small business corporation begins its first tax year on 

November 8. The 2-month period ends January 7 and 15 

days after that is January 22. To be an S corporation 

beginning with its short tax year, the corporation must file 

Form 2553 during the period that begins November 8 and 

ends January 22. Because the corporation had no prior tax 

year, an election made before November 8 won’t be valid.

Relief for Late Elections

The following two sections discuss relief for late S 

corporation elections and relief for late S corporation and 

entity classification elections for the same entity. For 

supplemental procedural requirements when seeking relief 

for multiple late elections, see Rev. Proc. 2013-30, section 

4.04.

When filing Form 2553 for a late S corporation election, 

the corporation (entity) must enter in the top margin of the 

first page of Form 2553 “FILED PURSUANT TO REV. PROC. 

2013-30.” Also, if the late election is made by attaching Form 

2553 to Form 1120-S, the corporation (entity) must enter in 

the top margin of the first page of Form 1120-S “INCLUDES 

LATE ELECTION(S) FILED PURSUANT TO REV. PROC. 

2013-30.”

The election can be filed with the current Form 1120-S if 

all earlier Forms 1120-S have been filed. The election can be 

attached to the first Form 1120-S for the year including the 

effective date if filed simultaneously with any other delinquent 

Forms 1120-S. Form 2553 can also be filed separately.

Relief for a Late S Corporation Election Filed by 

a Corporation

A late election to be an S corporation generally is effective for 

the tax year following the tax year beginning on the date 

entered on line E of Form 2553. However, relief for a late 

election may be available if the corporation can show that the 

failure to file on time was due to reasonable cause.

To request relief for a late election, a corporation that 

meets the following requirements must explain the 

reasonable cause for failure to timely file the election and its 

diligent actions to correct the mistake upon discovery. This 

information can be provided on line I of Form 2553 or on an 

attached statement.

1. The corporation intended to be classified as an S 

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

2. The corporation fails to qualify as an S corporation 

(see Who May Elect, earlier) on the effective date entered on 

line E of Form 2553 solely because Form 2553 wasn’t filed 

by the due date (see When To Make the Election, earlier);

3. The corporation has reasonable cause for its failure to 

timely file Form 2553 and has acted diligently to correct the 

mistake upon discovery of its failure to timely file Form 2553;

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

the date entered on line E of Form 2553; and

5. A corporation that meets requirements (1) through (4) 

must also be able to provide statements from all 

shareholders who were shareholders during the period 

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

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 

have been made and all subsequent years. Completion of 

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

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

meet this requirement; or

6. A corporation that meets requirements (1) through (3) 

but not requirement (4) can still request relief for a late 

election on Form 2553 if the following statements are true.

a. The corporation and all its shareholders reported their 

income consistent with S corporation status for the year the S 

corporation election should have been made, and for every 

subsequent tax year (if any);

b. At least 6 months have elapsed since the date on 

which the corporation filed its tax return for the first year the 

corporation intended to be an S corporation; and

c. Neither the corporation nor any of its shareholders was 

notified by the IRS of any problem regarding the S 

corporation status within 6 months of the date on which the 

Form 1120-S for the first year was timely filed.

To request relief for a late election when the above 

requirements aren’t met, the corporation generally must 

request a private letter ruling and pay a user fee in 

accordance with Rev. Proc. 2021-1, 2021-1 I.R.B. 1 (or its 

successor).

Relief for a Late S Corporation Election Filed By 

an Entity Eligible To Elect To Be Treated as a 

Corporation

A late election to be an S corporation and a late entity 

classification election for the same entity may be available if 

the entity can show that the failure to file Form 2553 on time 

was due to reasonable cause. Relief must be requested 

within 3 years and 75 days of the effective date entered on 

line E of Form 2553.

To request relief for a late election, an entity that meets 

the following requirements must explain the reasonable 

cause for failure to timely file the election and its diligent 

actions to correct the mistake upon discovery. This 

information can be provided on line I of Form 2553 or on an 

attached statement.

-2- Instructions for Form 2553 (December 2020)
1. The entity is an eligible entity as defined in Regulations 

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

8832 instructions).

2. The entity intended to be classified as an S 

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

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

the date entered on line E of Form 2553.

4. The entity failed to qualify as a corporation solely 

because Form 8832 wasn’t timely filed under Regulations 

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

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

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

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

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

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

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

(see When To Make the Election, earlier).

6. The entity either:

a. Timely filed all Forms 1120-S consistent with its 

requested classification as an S corporation, or

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

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

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

file Form 2553 and has acted diligently to correct the mistake 

upon discovery of its failure to timely file Form 2553.

8. The S corporation can provide statements from all 

shareholders who were shareholders during the period 

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

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 

have been made and all subsequent years. Completion of 

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

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

meet this requirement.

To request relief for a late election when the above 

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

private letter ruling and pay a user fee in accordance with 

Rev. Proc. 2021-1 (or its successor).

Where To File

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

to the Internal Revenue Service Center listed below. If the 

corporation (entity) files this election by fax, keep the original 

Form 2553 with the corporation's (entity’s) permanent 

records. However, certain late elections can be filed attached 

to Form 1120-S. See Relief for Late Elections, earlier.

Private delivery services. You can use certain private 

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

election. Go to IRS.gov/PDS for the current list of designated 

services.

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

mailing date.

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

to IRS.gov/PDSStreetAddresses.

If the corporation's (entity’s) 

principal business, office, or 

agency is located in:

Use the following 

address or fax number:

Connecticut, Delaware, 

District of Columbia, Georgia, 

Illinois, Indiana, Kentucky, 

Maine, Maryland, 

Massachusetts, Michigan, New 

Hampshire, New Jersey, New 

York, North Carolina, Ohio, 

Pennsylvania, Rhode Island, 

South Carolina, Tennessee, 

Vermont, Virginia, West Virginia, 

Wisconsin

Department of the Treasury

Internal Revenue

Service Center

Kansas City, MO 64999

Fax: 855-887-7734

Alabama, Alaska, Arizona, 

Arkansas, California, Colorado, 

Florida, Hawaii, Idaho, Iowa, 

Kansas, Louisiana, Minnesota, 

Mississippi, Missouri, Montana, 

Nebraska, Nevada, New 

Mexico, North Dakota, 

Oklahoma, Oregon, South 

Dakota, Texas, Utah, 

Washington, Wyoming

Department of the Treasury

Internal Revenue

Service Center

Ogden, UT 84201

Fax: 855-214-7520

The filing information shown above is subject to 

change. For the latest information, go to IRS.gov/

Filing/Where-To-File-Your-Taxes-for-Form-2553.

Acceptance or Nonacceptance of 

Election

The service center will notify the corporation (entity) if its 

election is accepted and when it will take effect. The 

corporation (entity) will also be notified if its election isn’t 

accepted. The corporation (entity) should generally receive a 

determination on its election within 60 days after it has filed 

Form 2553. If box Q1 in Part II is checked, the corporation 

(entity) will receive a ruling letter from the IRS that either 

approves or denies the selected tax year. When box Q1 is 

checked, it will generally take an additional 90 days for the 

Form 2553 to be accepted.

Care should be exercised to ensure that the IRS receives 

the election. If the corporation (entity) isn’t notified of 

acceptance or nonacceptance of its election within 2 months 

of the date of filing (date faxed or mailed), or within 5 months 

if box Q1 is checked, take follow-up action by calling 

1-800-829-4933.

If the IRS questions whether Form 2553 was filed, an 

acceptable proof of filing is:

• A certified or registered mail receipt (timely postmarked) 

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

designated private delivery service (see Notice 2016-30, 

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

IRS.gov/irb/2016-18_IRB#NOT-2016-30 (or its successor));

• Form 2553 with an accepted stamp;

• Form 2553 with a stamped IRS received date; or

• An IRS letter stating that Form 2553 has been accepted.

CAUTION

!

Instructions for Form 2553 (December 2020) -3-
Do not file Form 1120-S for any tax year before the 

year the election takes effect. If the corporation 

(entity) is now required to file Form 1120, U.S. 

Corporation Income Tax Return, or any other applicable tax 

return, continue filing it until the election takes effect.

End of Election

Once the election is made, it stays in effect until it is 

terminated or revoked. IRS consent generally is required for 

another election by the corporation (or a successor 

corporation) on Form 2553 for any tax year before the 5th tax 

year after the first tax year in which the termination or 

revocation took effect. See Regulations section 1.1362-5 for 

details.

Specific Instructions

Part I

Name and Address

Enter the corporation's (entity’s) true name as stated in the 

corporate charter or other legal document creating it. If the 

corporation's (entity’s) mailing address is the same as 

someone else's, such as a shareholder's, enter “C/O” and 

this person's name following the name of the corporation 

(entity). Include the suite, room, or other unit number after the 

street address. If the Post Office doesn’t deliver to the street 

address and the corporation (entity) has a P.O. box, show 

the box number instead of the street address. If the 

corporation (entity) changed its name or address after 

applying for its employer identification number, be sure to 

check the box in item D of Part I.

Item A. Employer Identification Number (EIN)

Enter the corporation's (entity’s) EIN. If the corporation 

(entity) doesn’t have an EIN, it must apply for one. An EIN 

can be applied for in the following ways.

• Online—Go to IRS.gov/EIN. The EIN is issued 

immediately once the application information is validated.

• By faxing or mailing Form SS-4, Application for Employer 

Identification Number.

If the corporation (entity) hasn’t received its EIN by the 

time the return is due, enter “Applied For” and the date the 

EIN was applied in the space for the EIN. For more details, 

see the Instructions for Form SS-4.

Item E. Effective Date of Election

Form 2553 generally must be filed no later than 2 

months and 15 days after the date entered for item 

E. For details and exceptions, see When To Make 

the Election and Relief for Late Elections, earlier.

A corporation (or entity eligible to elect to be treated as a 

corporation) making the election effective for its first tax year 

in existence should enter the earliest of the following dates:

• The date the corporation (entity) first had shareholders 

(owners),

• The date the corporation (entity) first had assets, or

• The date the corporation (entity) began doing business.

CAUTION

!

TIP

When the corporation (entity) is making the election 

for its first tax year in existence, it will usually enter 

the beginning date of a tax year that begins on a date 

other than January 1.

A corporation (entity) not making the election for its first 

tax year in existence that is keeping its current tax year 

should enter the beginning date of the first tax year for which 

it wants the election to be effective.

A corporation (entity) not making the election for its first 

tax year in existence that is changing its tax year and wants 

to be an S corporation for the short tax year needed to switch 

tax years should enter the beginning date of the short tax 

year. If the corporation (entity) doesn’t want to be an S 

corporation for this short tax year, it should enter the 

beginning date of the tax year following this short tax year 

and file Form 1128, Application To Adopt, Change, or Retain 

a Tax Year. If this change qualifies as an automatic approval 

request (Form 1128, Part II), file Form 1128 as an attachment 

to Form 2553. If this change qualifies as a ruling request 

(Form 1128, Part III), file Form 1128 separately. If filing Form 

1128, enter “Form 1128” on the dotted line to the left of the 

entry space for item E.

Item F

Check the box that corresponds with the S corporation's 

selected tax year. If box (2) or (4) is checked, provide the 

additional information about the tax year, and complete Part 

II of the form.

Signature

Form 2553 must be signed and dated by the president, vice 

president, treasurer, assistant treasurer, chief accounting 

officer, or any other corporate officer (such as tax officer) 

authorized to sign.

If Form 2553 isn’t signed, it won’t be considered timely 

filed.

Column J

Enter the name and address of each shareholder or former 

shareholder required to consent to the election. If stock of the 

corporation is held by a nominee, guardian, custodian, or an 

agent, enter the name and address of the person for whom 

the stock is held. If a single member limited liability company 

(LLC) owns stock in the corporation, and the LLC is treated 

as a disregarded entity for federal income tax purposes, 

enter the owner's name and address. The owner must be 

eligible to be an S corporation shareholder.

For an election filed before the effective date entered for 

item E, only shareholders who own stock on the day the 

election is made need to consent to the election.

For an election filed on or after the effective date entered 

for item E, all shareholders or former shareholders who 

owned stock at any time during the period beginning on the 

effective date entered for item E and ending on the day the 

election is made must consent to the election.

If the corporation timely filed an election, but one or more 

shareholders didn’t timely file a consent, see Regulations 

section 1.1362-6(b)(3)(iii). If the shareholder was a 

community property spouse who was a shareholder solely 

because of a state community property law, see Rev. Proc. 

2004-35, 2004-23 I.R.B. 1029, available at IRS.gov/irb/

2004-23_IRB#RP-2004-35.

CAUTION

!

-4- Instructions for Form 2553 (December 2020)
Column K. Shareholder's Consent Statement

Each shareholder consents by signing and dating either in 

column K or on a separate consent statement. The following 

special rules apply in determining who must sign.

• If an individual and his or her spouse have a community 

interest in the stock or in the income from it, both must 

consent. For more information about community property, 

see Pub. 555.

• Each tenant in common, joint tenant, and tenant by the 

entirety must consent.

• A minor's consent is made by the minor, legal 

representative of the minor, or a natural or adoptive parent of 

the minor if no legal representative has been appointed.

• The consent of an estate is made by the executor or 

administrator.

• The consent of an electing small business trust (ESBT) is 

made by the trustee and, if a grantor trust, the deemed 

owner. See Regulations section 1.1362-6(b)(2)(iv) for details.

• If the stock is owned by a qualified subchapter S trust 

(QSST), the deemed owner of the trust must consent.

• If the stock is owned by a trust (other than an ESBT or 

QSST), the person treated as the shareholder by section 

1361(c)(2)(B) must consent.

Continuation sheet or separate consent statement. If 

you need a continuation sheet or use a separate consent 

statement, attach it to Form 2553. It must contain the name, 

address, and EIN of the corporation (entity) and the 

information requested in columns J through N of Part I.

Column L

Enter the number of shares of stock each shareholder owns 

on the date the election is filed and the date(s) the stock was 

acquired. Enter -0- for any former shareholders listed in 

column J. An entity without stock, such as a limited liability 

company (LLC), should enter the percentage of ownership 

and date(s) acquired.

Column M

Enter the social security number of each individual listed in 

column J. Enter the EIN of each estate, qualified trust, or 

exempt organization.

Column N

Enter the month and day that each shareholder's tax year 

ends. If a shareholder is changing his or her tax year, enter 

the tax year the shareholder is changing to, and attach an 

explanation indicating the present tax year and the basis for 

the change (for example, an automatic revenue procedure or 

a letter ruling request).

Part II

Complete Part II if you checked box (2) or (4) in Part I, item F.

Note. Corporations can’t obtain automatic approval of a 

fiscal year under the natural business year (box P1) or 

ownership tax year (box P2) provisions if they are under 

examination, before an appeals (area) office, or before a 

federal court without meeting certain conditions and 

attaching a statement to the application. For details, see 

section 7.03 of Rev. Proc. 2006-46, 2006-45 I.R.B. 859, 

available at IRS.gov/irb/2006-45_IRB#RP-2006-46.

Box P1

A corporation that doesn’t have a 47-month period of gross 

receipts can’t automatically establish a natural business year.

Box Q1

For examples of an acceptable business purpose for 

requesting a fiscal tax year, see section 5.02 of Rev. Proc. 

2002-39, 2002-22 I.R.B. 1046, and Rev. Rul. 87-57, 1987-2 

C.B. 117.

Attach a statement showing the relevant facts and 

circumstances to establish a business purpose for the 

requested fiscal year. For details on what is sufficient to 

establish a business purpose, see section 5.02 of Rev. Proc. 

2002-39.

If your business purpose is based on one of the natural 

business year tests provided in section 5.03 of Rev. Proc. 

2002-39, identify which test you are using (the 25% gross 

receipts, annual business cycle, or seasonal business test). 

For the 25% gross receipts test, provide a schedule showing 

the amount of gross receipts for each month for the most 

recent 47 months. For either the annual business cycle or 

seasonal business test, provide the gross receipts from sales 

and services (and inventory costs, if applicable) for each 

month of the short period, if any, and the three immediately 

preceding tax years. If the corporation has been in existence 

for less than three tax years, submit figures for the period of 

existence.

If you check box Q1, you will be charged a user fee of 

$6,200 (subject to change by Rev. Proc. 2021-1 or its 

successor). Don’t pay the fee when filing Form 2553. The 

service center will send Form 2553 to the IRS in Washington, 

DC, who, in turn, will notify the corporation that the fee is due.

Box Q2

If the corporation makes a back-up section 444 election for 

which it is qualified, then the section 444 election will take 

effect in the event the business purpose request isn’t 

approved. In some cases, the tax year requested under the 

back-up section 444 election may be different than the tax 

year requested under business purpose. See Form 8716, 

Election To Have a Tax Year Other Than a Required Tax 

Year, for details on making a back-up section 444 election.

Boxes Q3 and R2

If the corporation isn’t qualified to make the section 444 

election after making the item Q2 back-up section 444 

election or indicating its intention to make the election in item 

R1, and therefore it later files a calendar year return, it should 

enter “Section 444 Election Not Made” in the top left corner of 

the first calendar year Form 1120-S it files.

Part III

Use Part III only if you make the election in Part I. 

Form 2553 can’t be filed with only Part III completed.

In Part III, the income beneficiary (or legal representative) 

of certain qualified subchapter S trusts (QSSTs) may make 

the QSST election required by section 1361(d)(2). Part III 

may be used to make the QSST election only if corporate 

stock has been transferred to the trust on or before the date 

on which the corporation makes its election to be an S 

corporation. However, a statement can be used instead of 

CAUTION

!

Instructions for Form 2553 (December 2020) -5-
Part III to make the election. If there was an inadvertent 

failure to timely file a QSST election, see the relief provisions 

under Rev. Proc. 2013-30.

The deemed owner of the QSST must also consent to the 

S corporation election in column K of Form 2553.

Additional QSST election. If you are making more than 

one QSST election, use additional copies of page 4 or use a 

separate election statement, and attach it to Form 2553. It 

must contain all information requested under Part III.

Part IV

The representations listed in Part IV must be attached to a 

late corporate classification election intended to be effective 

on the same date that a late S corporation election was 

intended to be effective. For more information on making 

these late elections, see Relief for a Late S Corporation 

Election Filed By an Entity Eligible To Elect To Be Treated as 

a Corporation, earlier.

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The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden for 

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below.

Recordkeeping ..................................................................... 9 hr., 48 min.

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Preparing and sending the form to the IRS ................................................ 4 hr., 1 min.

If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we 

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-6- Instructions for Form 2553 (December 2020)