How to Obtain a Copy of a Filed Sub S Corp Election

By Bryan Driscoll, J.D.

How to Obtain a Copy of a Filed Sub S Corp Election

By Bryan Driscoll, J.D.

Getting a copy of your S corp election is a straightforward process. You need to complete a form and provide it, along with some additional information, to the IRS. But this can take some time so plan accordingly. When incorporating your business, you'll have to think about how you want your corporation to be taxed. Particularly, there are different types of taxation, as you can elect to be taxed as either an S or C corp. Before you choose which one, however, you should learn of the benefits and potential disadvantages to each one.

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S Corporation Criteria

A company can operate as an S corporation if it meets certain criteria. This includes having only one class of stock, as well as having no more than 100 shareholders, all of whom are individuals and residents of the state in which the corporation is registered.

If you can prove the above-mentioned elements, then you will be able to elect S corporation status, which comes with many benefits. Such benefits include:

  • Flow-through taxation
  • Significant income splitting among owners and employees
  • Limited liability protection
  • Shareholders need not pay self-employment tax

S Corporation Acceptance

To obtain S corporation status under the IRS Code, you must incorporate under the laws of your home state. You can then apply for S corporation status by filing Form 2553. You will then receive a notice from the IRS within 60 days of filing advising whether or not your request is approved.

If you've lost or misplaced your S corporation approval letter, the IRS can provide you with additional copies. Below are the steps required to request additional copies of your S corporation status.

1. Gather documentation.

When requesting a copy of your S corporation approval, be sure to have your incorporation documents ready, as the IRS might ask for verification of such documentation.

Specifically, the IRS might ask for your corporation EIN, your name and title, and proof you filed Form 2553. To prove that you filed Form 2553, you may have to provide a certified mail receipt or other confirmation form.

2. Call the IRS.

Once you've compiled your documentation, you need to call the IRS at 1-800-829-4933. When you speak with an IRS representative, they will ask you to confirm your identity and relationship to the corporation. That's why it's important to have that documentation handy before making the call.

The IRS representative will confirm your information by reviewing the Form 2553 filing. They will then be able to provide you with a copy of the approval letter.

When you receive a copy of the approval letter, be sure to keep it in a safe place. Ideally, all of your corporation records should be stored together, along with copies of each record. You never want to find yourself searching for records or having to contact multiple agencies to obtain additional copies of your corporation's records.

Consider speaking with a qualified attorney if you are incorporating your business or need assistance with regard to your business.

This portion of the site is for informational purposes only. The content is not legal advice. The statements and opinions are the expression of author, not LegalZoom, and have not been evaluated by LegalZoom for accuracy, completeness, or changes in the law.

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