When is the Form 2553 deadline for S Corp Election? New corporation confused about filing window

The Form 2553 deadline depends on your tax year and when your corporation began conducting business. For a new corporation with a calendar tax year, you generally have until the 15th day of the 3rd month of your tax year (March 15) to file for S Corp status to be effective for that year. However, there's a special rule for new corporations. If your corporation is newly formed, the 2 month and 15 day period starts on the date you began conducting business, acquired assets, or issued stock - whichever happens first. Based on what you've shared, if your Articles of Incorporation were filed on 1/15/24 but you didn't actually start conducting business or issue stock until later, your deadline might be different. If you've missed the deadline, don't panic. You can still file Form 2553 and request late election relief under Revenue Procedure 2013-30, which allows for a retroactive S Corp election if you have reasonable cause for filing late.

After spending hours with my accountant trying to figure out my S corp election timing, I discovered taxr.ai (https://taxr.ai) which basically saved me from making a huge mistake with my filing deadline! I uploaded my Articles of Incorporation and company docs, and it immediately identified that I was still within my filing window because my business hadn't actually conducted any activities yet. The system explained exactly how the 2 month 15 day rule applied to my situation and gave me the precise date I needed to file by. So much clearer than all the conflicting info I was getting online!

Okay so I was skeptical about taxr.ai but I gave it a try with my situation (missed the deadline by 2 weeks). The site analyzed my documents and found a specific exemption that applied to my case since I hadn't issued stock certificates yet! The tool walked me through exactly how to file Form 2553 with the late election relief request and what supporting documentation to include. Just got confirmation yesterday that my S Corp election was accepted retroactively to the beginning of my tax year. Saved me thousands in corporate taxes I would have paid as a C Corp. Can't believe I almost gave up on the S election because I thought I missed some arbitrary deadline!

If you need to talk to the IRS about your Form 2553 status (which I HIGHLY recommend), use Claimyr (https://claimyr.com). I spent days trying to get through to the IRS business line about my S Corp election that seemed to be lost in their system. The hold times were insane - I kept getting disconnected after waiting 2+ hours. I was skeptical but tried their service (you can see how it works here: https://youtu.be/_kiP6q8DX5c) and they got me connected to an IRS agent in under 45 minutes. The agent confirmed they had received my Form 2553 but it hadn't been processed yet, and gave me a confirmation number I could use for my tax filing. Totally worth it for the peace of mind alone.

I just have to say I was completely wrong about Claimyr. After complaining about it here, I decided to try it myself since I was desperate to talk to someone about my S election issue. Got a call back in about an hour with an actual IRS business division agent on the line who helped resolve my confusion about the filing deadline. Turns out I was still within my window because I hadn't issued stock yet, even though the corporation was formed months ago. The agent walked me through exactly what to note on my Form 2553 to ensure it would be processed correctly. I probably would have given up after another failed attempt at reaching them on my own. Admitting when I'm wrong here!

Just wanted to share that I was in a similar situation last year. Filed my Articles on Feb 3rd but didn't get my EIN until April. My accountant advised that since I hadn't conducted any business activities or opened any accounts before getting my EIN, my 2 month + 15 day window started from when I actually started business operations (which was when I opened my business checking account on April 18th). I filed Form 2553 on June 10th and it was accepted with no issues. The key was documenting that while my corporation existed on paper earlier, my actual business activities didn't start until later.

I made a mistake with my S Corp election timing and had to file for late election relief. Here's what worked: File Form 2553 ASAP and attach a statement explaining why you missed the deadline (be specific about the reasonable cause - like confusion about when the deadline applied, lack of knowledge about the requirement, reliance on incorrect advice, etc.) The IRS is actually pretty lenient with new business owners who have reasonable cause. Just make sure everyone who owns stock signs the form and you check the box for late election.

Gabriel, based on your situation, you might still be within your filing window! Since you incorporated on 1/15/24 but haven't mentioned actually conducting business activities yet, the 2 month and 15 day period may not have even started. The key is when you first conducted business, acquired assets, or issued stock - not just when your Articles were filed. If all you have are the Articles and EIN with no actual business activity (no bank account opened, no transactions, no stock issued), then your deadline clock hasn't started ticking yet. When you do start your first business activities, you'll have until 2 months and 15 days from that date to file Form 2553. This gives you much more flexibility than the March 15th deadline you were worried about. Just make sure to document exactly when you begin business operations so you have a clear record of your deadline. And file Form 2553 promptly once you do start - don't wait until the last minute!

This thread has been incredibly helpful! I'm a new business owner who just got my EIN last month and was completely confused about the S Corp election timeline. Reading through everyone's experiences, it sounds like the key factor is when you actually START doing business activities, not just when you get your paperwork filed. For those still figuring this out - it seems like the consensus is that if you haven't opened business bank accounts, made sales, issued stock, or conducted any real business operations, your 2 month + 15 day clock hasn't even started yet. That's such a relief because I was stressing about some arbitrary January 1st or incorporation date deadline. Gabriel, definitely document when you first start any business activities so you have a clear timeline for your Form 2553 filing. And based on what others have shared, even if you do miss the deadline, the IRS seems pretty reasonable about late election relief for new businesses with legitimate reasons. Thanks everyone for sharing your real experiences - this is way more helpful than the confusing official guidance!

Gabriel, I went through this exact same confusion when I formed my LLC and elected S Corp status! The good news is that based on what you've described, you're likely still within your filing window. The 2 month and 15 day period starts from the earliest of three events: when you begin conducting business, when you acquire assets, or when you issue stock. Simply having your Articles of Incorporation filed doesn't automatically start the clock - it's about when you actually start operating as a business. Since you mentioned you haven't opened business bank accounts or conducted any transactions yet, your deadline period may not have even begun. The key is documenting when you take your first actual business action (opening that business bank account, making your first purchase, issuing stock certificates, etc.). I'd recommend filing Form 2553 as soon as you do start business operations, rather than waiting until near the deadline. And definitely keep detailed records of when you begin each business activity - this documentation will be valuable if the IRS ever questions your timeline. Don't stress too much about this! The IRS understands that new business owners often face confusion about these deadlines, and they're generally reasonable about late election relief if needed. But it sounds like you may not even need that option.