My Business is recognized as a Multi-Member LLC. Which form should I file to request an extension?
658 views | Last modified 2/12/2024 8:08:03 AM EST | Added by ExpressExtension Team

Primarily, there are 2 types of Multi-Member LLCs:

• Multi-Member LLC as Corporation
• Multi-Member LLC as Partnership 

Multi-Member LLC treated as Corporation

If you are a MultiMember LLC treated as a corporation, you can use the tax extension Form 7004 to request an extension of time to file Form 1120 or 1120-S with the IRS.

Form 7004 must be filed on or before the original due date of the business tax return. Upon filing Form 7004, you can get an automatic extension of up to 6 months. 

Multi-Member LLC treated as Partnership

If you are a Multi-Member LLC, treated as Partnership, you can use the tax extension Form 7004 to request an extension of time to file Form 1065 with the IRS.

Form 7004 must be filed on or before the 15th day of the 3rd month following the end of the business's tax year. Upon filing Form 7004, you can get an automatic extension of up to 6 months.

If you do not know which business tax return you need to choose when filing an extension Form 7004 in ExpressExtension, you can use the inbuilt feature available in our application that will help you choose the right tax return based on your business entity type. Here is how:

1. Click the “What business return should I file extension for?” link for assistance in choosing the correct business tax return to file an extension.

2. Select your business entity type as “Limited Liability Company (LLC)” from the drop-down list, and choose either "Multi-Member LLC as a Corporation" or "Multi-Member LLC as a Partnership" from the options, and we will suggest the business tax return you need to choose to file an extension for.

Select the appropriate business tax return from the list and click ‘Confirm’ to proceed to file the extension for that business tax return.