USA S Corp Late Election for LLC

[justlookingforhelp]

I have an LLC that was formed back in 2019 and I'm interested in electing an S Corp status (if possible). I'm well beyond the 3 year and 75 day window for late election relief. However, my question is, is it possible for the effective date to be later than the the formation date? Again the LLC was formed in 2019, would it be possible for the effective S Corp date to be this year 2025? Would I need to file anything other than form 2553?

 

[Mike Johnson]

You are well beyond the filing date even for late election relief for 2025. I would advise you review the IRS publications on this topic. As for Form 2553, it is the only form required. I would also advise you to weigh the advantages and disadvantages of making the S Corp election. I can truly say from my experience; you will encounter more record keeping requirements and have to comply with some additional rules. Good Luck!