IRS 2553 Election by a Small Business Corporation

In the case of a corporation wanting to be recognized as an S Corporation by the IRS, the following form has to be completed and submitted.

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6 	I.R.S. SPECIFICATIONS 	TO BE REMOVED BEFORE PRINTING 	INSTRUCTIONS TO PRINTERSFORM 2553, PAGE 1 of 4MARGINS: TOP 13mm (	1¤2"), CENTER SIDES.	PRINTS: HEAD TO HEAD	PAPER: WHITE WRITING, SUB. 20. INK: BLACKFLAT SIZE: 216mm (8	1¤2") x 279mm (11")	PERFORATE: (NONE) 	
Election by a Small Business Corporation
 	
2553
 	
Form 	OMB No. 1545-0146 	
(Under section 1362 of the Internal Revenue Code)
 	(Rev. December 2007) 	©See Parts II and III on page 3 and the separate instructions.
 	Department of the TreasuryInternal Revenue Service 	©The corporation can fax this form to the IRS (see separate instructions).
 	Note. 	This election to be an S corporation can be accepted only if all the tests are met under 	Who May Elect 	on page 1 of the instructions; all	shareholders have signed the consent statement; an officer has signed below; and the exact name and address of the corporation and otherrequired form information are provided. Election Information
 	Employer identification number 	Name (see instructions) 	A 	
Number, street, and room or suite no. (If a P.O. box, see instructions.) 	Date incorporated 	B 	
City or town, state, and ZIP code 	State of incorporation 	C 	
Telephone number of officer
or legal representative
 	
H 
D 	Check the applicable box(es) if the corporation, after applying for the EIN shown in 	A above, changed its 	name or 	address 	
I 	
Date 	Form	2553	(Rev. 12-2007) 	For Paperwork Reduction Act Notice, see separate instructions. 
Type
or Print
 	
DO NOT PRINT Ð DO NOT PRINT Ð DO NOT PRINT Ð DO NOT PRINT 	
TLS, have youtransmitted all R text files for this cycle update? 	
Date 	
Action 
Revised proofsrequested 	
Date 	Signature 	
O.K. to print 	
Par	t I 
Name and title of officer or legal representative who the IRS may call for more information
 	
(	)
 	
Cat. No. 18629R
 	
E 	Election is to be effective for tax year beginning (month, day, year) (see instructions)	©
 	/	/
 	
If this S corporation election is being filed with Form 1120S, I declare that I had reasonable cause for not filing Form 2553
timely, and if this election is made by an entity eligible to elect to be treated as a corporation, I declare that I also had
reasonable cause for not filing an entity classification election timely. See below for my explanation of the reasons the
election or elections were not made on time (see instructions).
 
Caution. 	A corporation (entity) making the election for its first tax year in existence will usually enter the 	
beginning date of a short tax year that begins on a date other than January 1.
 	F 	Selected tax year:
 
(2) 	Fiscal year ending (month and day)	©
 	(3) 	52-53-week year ending with reference to the month of December
 	(4) 	52-53-week year ending with reference to the month of	©
 	If box (2) or (4) is checked, complete Part II
 	G 	If more than 100 shareholders are listed for item J (see page 2), check this box if treating members of a family as one
shareholder results in no more than 100 shareholders (see test 2 under 	Who May Elect 	in the instructions)	©
 	
Under penalties of perjury, I declare that I have examined this election, including accompanying schedules and statements, and to the best of my knowledge and belief, it istrue, correct, and complete. 	Sign
Here
 	Title 	Signature of officer 	
© 	
(1) 	Calendar year

6 	I.R.S. SPECIFICATIONS 	TO BE REMOVED BEFORE PRINTING 	
DO NOT PRINT Ð DO NOT PRINT Ð DO NOT PRINT Ð DO NOT PRINT 
INSTRUCTIONS TO PRINTERSform 2553, PAGE 2 of 4MARGINS: TOP 13 mm (	1¤2"), CENTER SIDES. 	PRINTS: HEAD TO HEAD	PAPER: WHITE WRITING, SUB. 20. 	INK: BLACK	FLAT SIZE: 216 mm (8	1¤2") 3 279 mm (11")	PERFORATE: (NONE) 	
J	Name and address of eachshareholder or former shareholder required to consent to the election. (See the instructions for	column K.) 	
K	Shareholders' Consent Statement.	Under penalties of perjury, we declare that we consent to theelection of the above-named corporation to be an S corporationunder section 1362(a) and that we have examined this consentstatement, including accompanying schedules and statements,and to the best of our knowledge and belief, it is true, correct, andcomplete. We understand our consent is binding and may not bewithdrawn after the corporation has made a valid election. (Sign	and date below.) 	
N	Shareholder'stax year ends(month and	day) 	
L	Stock owned or	percentage of ownership	(see instructions) 	
M	Social security	number or employeridentification number(see instructions) 	Date(s)acquired 	
Number ofshares orpercentageof ownership 	Date 	Signature 	
Form 2553 (Rev. 12-2007) 	Page	2 	Par	t I 	
Form 	2553 	(Rev. 12-2007)
 	
Election Information 	(continued)

6 	
INSTRUCTIONS TO PRINTERSFORM 2553, PAGE 3 of 4 (PAGE 4 BLANK)MARGINS: TOP 13mm (	1¤2"), CENTER SIDES.	PRINTS: HEAD to HEAD	PAPER: WHITE WRITING, SUB. 20. INK: BLACKFLAT SIZE: 216mm (8	1¤2") x 279mm (11")	PERFORATE: (NONE) 	
Form 2553 (Rev. 12-2007) 	Page	3 	Selection of Fiscal Tax Year 	(see instructions)
 	
Check the applicable box to indicate whether the corporation is: 	
R 	
1.	A new corporation 	adopting 	the tax year entered in item F, Part I. 	2.	An existing corporation 	retaining 	the tax year entered in item F, Part I. 	3.	An existing corporation 	changing 	to the tax year entered in item F, Part I. 	
O 	
Complete item P if the corporation is using the automatic approval provisions of Rev. Proc. 2006-46, 2006-45 I.R.B. 859, to request 	(1) 	a	natural business year (as defined in section 5.07 of Rev. Proc. 2006-46) or 	(2) 	a year that satisfies the ownership tax year test (as defined in	section 5.08 of Rev. Proc. 2006-46). Check the applicable box below to indicate the representation statement the corporation is making. 
2. Ownership Tax Year	©	I represent that shareholders (as described in section 5.08 of Rev. Proc. 2006-46) holding more than half of	the shares of the stock (as of the first day of the tax year to which the request relates) of the corporation have the same tax year or areconcurrently changing to the tax year that the corporation adopts, retains, or changes to per item F, Part I, and that such tax year satisfiesthe requirement of section 4.01(3) of Rev. Proc. 2006-46. I also represent that the corporation is not precluded by section 4.02 of Rev. Proc.2006-46 from obtaining automatic approval of such adoption, retention, or change in tax year. 	
Note. 	If you do not use item P and the corporation wants a fiscal tax year, complete either item Q or R below. Item Q is used to request a fiscal	tax year based on a business purpose and to make a back-up section 444 election. Item R is used to make a regular section 444 election. 	Business PurposeÐTo request a fiscal tax year based on a business purpose, check box Q1. See instructions for details including paymentof a user fee. You may also check box Q2 and/or box Q3. 	
P 	
1. Check here	©	if the fiscal year entered in item F, Part I, is requested under the prior approval provisions of Rev. Proc. 2002-39,	2002-22 I.R.B. 1046. Attach to Form 2553 a statement describing the relevant facts and circumstances and, if applicable, the gross receiptsfrom sales and services necessary to establish a business purpose. See the instructions for details regarding the gross receipts from salesand services. If the IRS proposes to disapprove the requested fiscal year, do you want a conference with the IRS National Office?  
2. Check here	©	to show that the corporation intends to make a back-up section 444 election in the event the corporation's business	purpose request is not approved by the IRS. (See instructions for more information.) 3. Check here	©	to show that the corporation agrees to adopt or change to a tax year ending December 31 if necessary for the IRS	to accept this election for S corporation status in the event (1) the corporation's business purpose request is not approved and thecorporation makes a back-up section 444 election, but is ultimately not qualified to make a section 444 election, or (2) the corporation'sbusiness purpose request is not approved and the corporation did not make a back-up section 444 election. 
Section 444 ElectionÐTo make a section 444 election, check box R1. You may also check box R2. 	
Q 	
1. Check here	©	to show that the corporation will make, if qualified, a section 444 election to have the fiscal tax year shown in item F,	Part I. To make the election, you must complete 	Form 8716, 	Election To Have a Tax Year Other Than a Required Tax Year, and either	attach it to Form 2553 or file it separately. 2. Check here	©	to show that the corporation agrees to adopt or change to a tax year ending December 31 if necessary for the IRS	to accept this election for S corporation status in the event the corporation is ultimately not qualified to make a section 444 election. 	
Qualified Subchapter S Trust (QSST) Election Under Section 1361(d)(2)*
 	Income beneficiary's name and address 	Social security number 	
Trust's name and address 	Employer identification number 	
Date on which stock of the corporation was transferred to the trust (month, day, year)	©	/	/ 	In order for the trust named above to be a QSST and thus a qualifying shareholder of the S corporation for which this Form 2553 is filed, Ihereby make the election under section 1361(d)(2). Under penalties of perjury, I certify that the trust meets the definitional requirements ofsection 1361(d)(3) and that all other information provided in Part III is true, correct, and complete. 	
Date 	Signature of income beneficiary or signature and title of legal representative or other qualified person making the election 
*Use Part III to make the QSST election only if stock of the corporation has been transferred to the trust on or before the date on which thecorporation makes its election to be an S corporation. The QSST election must be made and filed separately if stock of the corporation istransferred to the trust 	after 	the date on which the corporation makes the S election. 	
1. Natural Business Year	©	I represent that the corporation is adopting, retaining, or changing to a tax year that qualifies as its natural	business year (as defined in section 5.07 of Rev. Proc. 2006-46) and has attached a statement showing separately for each month the grossreceipts for the most recent 47 months (see instructions). I also represent that the corporation is not precluded by section 4.02 of Rev. Proc.2006-46 from obtaining automatic approval of such adoption, retention, or change in tax year. 	
I.R.S. SPECIFICATIONS 	TO BE REMOVED BEFORE PRINTING 	
DO NOT PRINT Ð DO NOT PRINT Ð DO NOT PRINT Ð DO NOT PRINT 	
Part III
 	
Printed on recycled paper
 	Form 	2553 	(Rev. 12-2007)
 	
Yes	 No 	
Note. 	All corporations using this part must complete item O and item P, Q, or R.
 	
Part II