S-Corp Election Deadline — March 15

Who must file or pay

Any LLC or C-Corp that wants S-Corp taxation for the CURRENT year must file Form 2553 by March 15 (the 15th day of the 3rd month of the tax year).

What you need to know

To elect S-Corp taxation for the 2026 tax year, an LLC or C-Corp must file Form 2553 by March 15, 2026. This is the 75th day of the year (the 15th day of the 3rd month) — a specific IRS rule under IRC §1362(b).

For a newly formed entity, the election window is more generous: you have until the 15th day of the 3rd month after formation to elect S-Corp status for the entity's first year. A company formed August 1, 2026 has until November 15, 2026 to elect S-Corp treatment retroactive to formation.

The financial impact of this election is significant. An S-Corp owner earning $150,000/year in self-employment income can save $10,000–$20,000 annually in self-employment taxes by splitting income between a reasonable W-2 salary and a distribution that is not subject to Social Security/Medicare taxes. Genie calculates the break-even point (the salary level at which the S-Corp election becomes worthwhile) based on your actual income.

Missing this deadline means waiting until next year — or filing under Rev. Proc. 2013-30 for late election relief, which requires showing reasonable cause. The cost of a missed election can be tens of thousands in additional self-employment tax for a profitable business.

Required forms

• →Form 2553

Go deeper

A licensed TaxosAgent professional reviews your situation before this deadline — so you maximize savings, not just compliance.