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posted Dec 4, 2024 1:54:15 PM

How to Change the IRS Classification from LLC Multimember to LLC Single Member

I started my LLC in Texas in mid-October of this year (2024). I mistakenly classified my LLC as a multi-member LLC with the IRS and would like to correct it to a single member this year. What steps do I need to take? How do I complete Form 8832?

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1 Replies
Level 15
Dec 4, 2024 5:19:56 PM

If the LLC was never a multi-member LLC, nothing needs to be done.

 

If you merely applied for an EIN and accidently said it was a multi-member LLC, that isn't a big deal.  In the unlikely event the IRS sends you a notice asking about a Partnership return (Form 1065), just respond that it never was a Partnership (it was always a sole owner and you reported it on Schedule C).