I missed the S-Corp election deadline. Now what?
Late S-Corp elections are usually granted under Rev. Proc. 2013-30 if you file within 3 years and 75 days.
The S-Corp election (Form 2553) is normally due by March 15 of the year you want it to take effect (for calendar-year filers).
If you missed that date, the IRS has a relief mechanism: Rev. Proc. 2013-30. Late elections are granted if:
- You file Form 2553 within 3 years and 75 days of the intended effective date
- You have reasonable cause for the late filing
- The corporation has otherwise reported income consistent with S-Corp treatment
- All shareholders agree to the election
"Reasonable cause" is usually granted for missed elections due to advisor oversight, illness, or first-year confusion. We file these for $149 + the original $0 election fee. The IRS typically approves within 60 days.
If the deadline window has closed (more than 3 years and 75 days late), the election cannot be granted retroactively. You can still elect S-Corp going forward.
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