2553

[Kamran Ahmed]

can we file a 2553 over already filed one and change its date to new date  ? like we already filed one with an S corporation Election Date effective 09/20/2018, and we want to change it to 01/01/2021.

[JulieS]

No, you aren't allowed to file another Form 2553 to change the date that your S-Corporation took effect. 

Assuming your Form 2553 was timely filed and accepted by the IRS, the election stays in effect until it is terminated or revoked. 

If your S-Corporation is terminated or revoked, a new election may not be made for five years for the same corporation. Follow this link to read the applicable IRC section.