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Is your S-corp election timely — or late?
Form 2553 is due 2 months and 15 days into the tax year the election should take effect, and the late relief window closes 3 years and 75 days after that same date. Enter one date and get both of yours.
For a new entity, use the first date it had shareholders, assets, or business activity. For an existing business on a calendar year, use January 1 of the year you want the S-corp election to start.
How the dates work
Two windows, one starting point
Both deadlines are measured from the first day of the tax year the election should take effect — not from your formation paperwork or your EIN letter.
The 2-month-and-15-day rule
An election filed within 2 months and 15 days of the start of the tax year applies to that entire year. For a calendar-year business, that is March 15. File after it and the election normally takes effect the following year instead — unless relief is requested.
The 3-year-and-75-day relief window
Rev. Proc. 2013-30 lets most businesses make the election retroactive if it is filed within 3 years and 75 days of the intended effective date, the entity qualified as an S corporation the whole time, and a reasonable-cause statement explains the delay.
New businesses start their own clock
A brand-new entity's first tax year begins on the earliest of the date it first had shareholders, first had assets, or first began doing business — not the date the state approved the filing. That earlier date is the one the IRS counts from.
Every shareholder still has to sign
A deadline met with missing consents is not a filed election. Every owner during the election period must sign, and in community-property states that can include a spouse who is not on the ownership documents.
Online 2553 provides general information about IRS Form 2553 and the S corporation election. It is not a law firm or an accounting firm, is not authorized by the IRS, and does not provide legal, tax, or accounting advice. Your facts matter — confirm your situation with a qualified tax professional before filing.
Next step
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Timely or late, we prepare Form 2553, collect every consent, and submit it to the correct IRS service center.
Online 2553 provides general information about IRS Form 2553 and the S corporation election. It is not a law firm or an accounting firm, is not authorized by the IRS, and does not provide legal, tax, or accounting advice. Your facts matter — confirm your situation with a qualified tax professional before filing.