When you start an S Corporation, there's a specific date that's important - it's called the "S Election Effective Date." You can find this date in a few different places:
Form CP 261 (s corp confirmation from IRS form) - see example below
Any previously filed and accepted 1120-S Business Tax Return
CP 261
The CP 261 letter is important because it officially confirms that your S Corporation has been established. Going forward, your S Corporation's business activity will be reported on the 1120s Business Tax Return.
To learn more about the Form 2553 Election form that precedes the CP 261, click here: https://help.collective.com/en/articles/5670454-s-corp-election-irs-form-2553
What if I can't find my CP 261 letter? The 385C Letter!
If you can't find your CP 261 letter, don't worry - you can request a copy of the 385C letter, which serves as alternative proof of your S Corporation's election. You can request the 385C letter to be mailed to you, but it will take 10-14 business days to arrive. If you do not have a fax number, you can have the form faxed directly to Collective, our fax number is +1 650-275-4240 (it is a private and secure fax line).
Call 1-800-829-4933 (the “business and specialty tax line”).
Press option 1 for English.
Press option 2 to request forms to be sent to you.
The IRS agent will ask a few security questions to confirm you own your LLC.
Tell the IRS agent that you need to confirm your LLC is treated an S-Corp, confirm the S-Corp election date, and request a copy of the 385C Letter.
Tell the IRS agent whether you’d like to receive the 385C Letter by fax.
Tip: The IRS agent will ask, “Do you have a private and secure fax next to you?” If using our fax number, say "yes". Our fax number is +1 650-275-4240.
CP 261
