Understanding Your CP265 Notice

What this notice is about

This notice alerts you when we terminate a Subchapter S election.

What you need to do

File Form 1120, U.S. Corporation Income Tax Return PDF by the due date. See Instructions for Form 1120 PDF.

You may want to

Keep this notice in your permanent records.

Frequently asked questions

Can I re-elect Subchapter S status?

No, you must wait 5 years before making a new election.

Tips for next time you file

• IRS e-file Providers and Large Taxpayers authorized to participate in IRS e-file can file Form 1120; Form 1120-S, U.S. Income Tax Return for an S Corporation PDF; and Form 1120-F, U.S. Income Tax Return of a Foreign Corporation PDF; through Modernized e-File.
• IRS e-file Providers and Large Taxpayers authorized by IRS should follow the official guidance listed under "How to Participate" on the Form 1120/1120S/1120-F e-file webpage.