Schedule B-1 (Form 1120S) (Rev. 12-2016)
Page 2
General Instructions
Section references are to the Internal Revenue Code unless
otherwise noted.
Future Developments
For the latest information about developments related to
Schedule B-1 (Form 1120S) and its instructions, such as
legislation enacted after they were published, go to
www.irs.gov/form1120s.
Purpose of Form
Use Schedule B-1 (Form 1120S) to provide the information
applicable to any shareholder in the S corporation that was a
disregarded entity, a trust, an estate, or a nominee or similar
person at any time during the tax year.
If the shareholder was a disregarded entity, provide the
information even if the name, address, and social security
number (SSN) or employer identification number (EIN) (if any) of
the owner of the disregarded entity was entered on Schedule
K-1 (Form 1120S), Shareholder's Share of Income, Deductions,
Credit, etc. If the shareholder was a nominee, guardian,
custodian, or agent, provide the information even if the name,
address, and SSN or EIN (if any) of the person for whom the
stock was held was entered on Schedule K-1 (Form 1120S).
Who Must File
Schedule B-1 (Form 1120S) must be filed by all S corporations
that answer “Yes” to Form 1120S, Schedule B, question 3.
Attach Schedule B-1 to Form 1120S.
Specific Instructions
Column (a)
Enter the name of the shareholder (owner) of record in column
(a). For example:
• If a disregarded entity (for example, a single member limited
liability company (LLC) that did not elect to be taxed as a
corporation for federal income tax purposes) is the shareholder
(owner) of record, enter the name of the disregarded entity.
• If a nominee or similar person (for example, a guardian,
custodian, or agent) is the shareholder (owner) of record, enter
the name of the nominee or similar person.
Column (c)
Enter the type of shareholder (owner) of record. For example,
the shareholder (owner) of record may be a disregarded entity,
trust, estate, nominee, guardian, custodian, agent, or similar
person.
Column (d)
Enter the name and SSN or EIN (if any) of the individual or entity
responsible for reporting shareholder's income, deductions,
credits, etc., from Schedule K-1 (Form 1120S). For example:
1. If a disregarded entity is the shareholder (owner) of record,
the owner of the disregarded entity must be eligible to be an
S corporation shareholder. Enter the name and SSN or EIN (if
any) of the owner. For example, if a single member LLC owns
stock in the corporation, and the LLC is treated as a
disregarded entity for federal income tax purposes, enter the
member's name and SSN or EIN (if any). An LLC that elects to
be treated as a corporation for federal income tax purposes is
not eligible to be an S corporation shareholder.
2. If a trust is the shareholder (owner) of record, the information
entered in column (d) is dependent on the type of trust.
a. If the trust is a grantor trust, the grantor must be an
individual. Enter the name and SSN of the grantor.
b. If the trust is a qualified subchapter S trust (QSST), there
can only be one beneficiary, who must be an individual. Enter
the name and SSN of the individual beneficiary.
c. If the trust is an electing small business trust (ESBT), enter
the information you entered under columns (a) and (b). Do not
enter any beneficiary information.
3. If an estate is the shareholder (owner) of record, enter the
information you entered under columns (a) and (b). Do not enter
any beneficiary information.
