Business Formation
🏛 IRS
S Corporation Election
To elect S corporation status, file Form 2553 with the IRS. Election must be made by March 15 of the tax year for which it is to be effective (or anytime during the prior year). S corps may have up to 100 shareholders and only one class of stock.
Source Agency
IRS
IRS
Last Verified
March 1, 2026
March 1, 2026
Next Review
May 30, 2026
May 30, 2026