Filing window
Form 2553 must be filed by the 15th day of the third month of the tax year you want the election to take effect (March 15 for a calendar-year business).
Late election relief
Rev. Proc. 2013-30 allows late S-elections up to 3 years and 75 days past the due date if you can demonstrate reasonable cause and intent to be treated as an S-corp all along. We file the relief language on 2553.
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Common questions
- When should I file Form 2553?
- Ideally immediately after entity formation. You can elect retroactively to January 1 of the current year if the election is filed by March 15.