IRS Form 2553 PDF (Fillable): Free Download and Step-by-Step Guide to Completion

IRS Form 2553 PDF (Fillable) – If you’re a small business owner considering electing S corporation status to enjoy pass-through taxation benefits, IRS Form 2553 is essential. This form allows qualifying corporations and limited liability companies to make the election under Internal Revenue Code Section 1362(a). In this comprehensive guide, we’ll cover everything you need to know about the fillable IRS Form 2553 PDF, including how to download it, eligibility requirements, and a detailed walkthrough on completion. Whether you’re a new entity or an existing C corporation, understanding Form 2553 can help streamline your tax strategy.

What Is IRS Form 2553 and Why Do You Need It?

IRS Form 2553, titled “Election by a Small Business Corporation,” is used by eligible small businesses to elect S corporation treatment. This election lets the business’s income, losses, deductions, and credits pass through to shareholders, avoiding double taxation at the corporate level. It’s particularly beneficial for small businesses aiming to reduce tax liabilities while maintaining limited liability protection.

To qualify as an S corporation, your business must meet specific IRS criteria, such as being a domestic corporation with no more than 100 shareholders, having only one class of stock, and restricting shareholders to U.S. citizens, residents, certain trusts, or exempt organizations. Nonresident aliens and most corporations cannot be shareholders. If your entity doesn’t meet these tests, the election may be invalid.

This form is typically filed by new corporations starting their first tax year or existing entities switching from C corporation status. Note that once elected, the S status remains until revoked or terminated, and re-election requires IRS consent after five years.

Eligibility Requirements for Filing Form 2553

Before downloading the fillable PDF, ensure your business qualifies. Key eligibility tests include:

  • Entity Type: Must be a domestic corporation or an eligible entity (like an LLC) that has elected to be treated as a corporation.
  • Shareholder Limits: No more than 100 shareholders. Husbands and wives count as one, and family members may be treated as one under certain rules.
  • Shareholder Types: Only individuals, estates, exempt organizations (e.g., 501(c)(3)), or specific trusts (e.g., QSST or ESBT).
  • Stock Classes: Only one class of stock with identical rights.
  • Tax Year: Must adopt a permitted tax year, such as calendar year or natural business year.
  • No Ineligible Entities: Cannot be a bank using the reserve method, insurance company, or DISC.

All shareholders must consent to the election. If your business fails any test, consult a tax professional to explore alternatives like late election relief under Revenue Procedure 2013-30.

How to Download the Fillable IRS Form 2553 PDF?

The official fillable PDF version of Form 2553 is available for free on the IRS website. The current revision is December 2017, with instructions last updated in December 2020. To download:

  1. Visit the IRS Forms and Publications page.
  2. Search for “Form 2553” or go directly to the about page for details.
  3. Click the link to download the PDF: https://www.irs.gov/pub/irs-pdf/f2553.pdf.
  4. For instructions, download https://www.irs.gov/pub/irs-pdf/i2553.pdf.

The form is fillable, meaning you can type directly into the PDF fields using software like Adobe Acrobat Reader. Always use the latest version from IRS.gov to ensure compliance, as forms are periodically updated. As of late 2025, no major revisions have been noted, but check the site for any announcements.

Step-by-Step Guide: How to Complete IRS Form 2553?

Completing Form 2553 requires accurate information about your business and shareholders. The form has four parts, but most filers focus on Parts I and II. Follow these steps based on the official instructions.

Part I: Election Information

  • Name and Address: Enter the corporation’s legal name and mailing address. Check Box D if there’s been a name or address change since obtaining your EIN.
  • Item A: Employer Identification Number (EIN): Provide your EIN. If not yet obtained, enter “Applied For” and the application date.
  • Item E: Effective Date of Election: Enter the desired start date for S status (e.g., the first day of your tax year).
  • Item F: Selected Tax Year: Check the appropriate box for your tax year type (e.g., calendar year). If selecting a non-calendar year, complete Part II.
  • Shareholder Information (Columns J-N): List each shareholder’s name, address, SSN or EIN, shares owned, acquisition dates, and tax year end. All must sign in Column K or on a separate consent statement.
  • Signature: An authorized officer (e.g., president) must sign and date.

Part II: Selection of Fiscal Tax Year (If Applicable)

  • Complete if your tax year isn’t a calendar year.
  • Box P1: For natural business year, provide gross receipts details if required.
  • Box Q1: For other years, attach a statement explaining the business purpose and pay any user fee (e.g., $6,200 as per current procedures).

Part III: QSST Election (If Applicable)

  • Used if stock is held in a qualified subchapter S trust. The income beneficiary must elect here or on a separate statement.

Part IV: Late Classifications (Optional)

  • For late entity classification elections; attach if relevant.

Double-check all entries for accuracy, as errors can delay processing. Attach any required statements or forms (e.g., Form 8716 for Section 444 election).

Filing Deadlines, Where to File, and Submission Options

Timely filing is crucial. For a new corporation, file no later than 2 months and 15 days after the tax year begins. For existing entities, file anytime in the preceding tax year or within the 2-month-15-day window. Late filings may qualify for relief if filed within 3 years and 75 days with reasonable cause.

Mail or fax the completed form to the appropriate IRS center:

  • For certain states (e.g., CT, DC, DE), send to Kansas City, MO 64999 (Fax: 855-887-7734).
  • For others, Ogden, UT 84201 (Fax: 855-214-7520).

Use certified mail for proof of filing. The IRS typically responds within 60-90 days. If approved, you’ll receive confirmation; otherwise, a CP264 notice may explain the denial.

Common Mistakes to Avoid When Completing Form 2553

  • Missing shareholder consents or signatures.
  • Incorrect effective date or tax year selection.
  • Failing to meet eligibility tests (e.g., exceeding 100 shareholders).
  • Not attaching required explanations for late filings or non-calendar years.
  • Using an outdated form version—always download from IRS.gov.

If issues arise, you can request a copy of your filed Form 2553 using Form 4506.

Frequently Asked Questions About IRS Form 2553

Is Form 2553 Fillable Online?

Yes, the PDF is fillable and can be completed digitally before printing or faxing.

Can an LLC File Form 2553?

Yes, if the LLC elects corporate treatment and meets S corp eligibility.

What If I Miss the Filing Deadline?

You may qualify for late election relief by explaining reasonable cause and ensuring consistent tax reporting.

Where Can I Find More Help?

Refer to the Instructions for Form 2553 or consult a tax advisor. For S corp filing requirements, see IRS resources on changing filing status.

Conclusion

Electing S corporation status via IRS Form 2553 can offer significant tax advantages for qualifying small businesses. By downloading the fillable PDF from the official IRS site and following our step-by-step guide, you can complete and file it confidently. Remember to verify eligibility and deadlines to avoid complications. For personalized advice, contact a qualified tax professional. Stay updated by checking IRS.gov regularly, as tax rules can evolve.