Delaware Election of 'S' Corporation Status and Instructions - IRS 2553
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How to fill out Election Of 'S' Corporation Status And Instructions - IRS 2553?
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FAQ
Form 2553, Election by a Small Business Corporation, can't be filed electronically. The form instructions state that the corporation needs to mail or fax the original copy of the form to the IRS.
Filing as an S Corp in Delaware Choose a name. First, select a name for your Delaware LLC. ... Choose a registered agent. Next, designate a registered agent for your LLC. ... File your Delaware Certificate of Formation. ... Create an operating agreement. ... Apply for an EIN. ... File the form to apply for S corp status.
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.
You can file your Form 2553 with the IRS online, by fax, or by mail.
How long does the process take? Typically, you will get a verdict on your form 2553 application within 60 days of submitting it to the IRS. If you have not heard back in that timeframe, reach out to the IRS directly. You can call the IRS at (800) 829-4933 to check the status of your application.
In order to become an S corporation, the corporation must submit Form 2553, Election by a Small Business Corporation signed by all the shareholders. See the Instructions for Form 2553PDF for all required information and to determine where to file the form.
If you're an existing business You must file Form 2553 within two months and 15 days of the beginning of the tax year that you want your S corp tax treatment to start. For example, if you want your existing LLC to be taxed as an S corp in 2023, you need to file Form 2553 by March 15, 2023.