The IRS doesn’t recognize “LLC” or a Limited Liability Company as its own tax category. Instead, they tax LLCs depending on how many members it has and whether you’ve chosen (or “elected”) to be taxed as a corporation. This decision plays a hand in the type of forms you must file. With Form 1065 being filed for partnerships, Form 1120 for C-corps, Form 1120-S for S-corps, or even Schedule C on Form 1040 for single member LLCs.
Since LLCs can be taxed in different ways, their filing deadlines also align with the tax treatment they’ve chosen. If your LLC is not ready to file taxes by the deadline, you can request more time by submitting LLC Form 7004 before the original tax filing deadline.
Which LLCs Need Form 7004?
For federal tax purposes, the IRS classifies LLCs as a sole proprietorship (single member), partnership (multi-member), or corporation (if elected). This classification depends on elections or choices made by the LLC and its members (owners of an LLC are called members). The classification decides which tax return you file and whether you need Form 7004 to file LLC tax extension online.
- Multi member LLCs: These types of LLCs can either be a partnership or corporation, depending on the election, with partnership being the default. They (partnerships) file Form 1065 and use corresponding code 09 in Form 7004.
- LLC electing to be an S-Corps: An LLC that chooses to be an S-corps must files Form 1120-S and choose Code 25 for Part I of Form 7004.
- LLC electing to be a C-Corps: For LLCs electing to be C-corps has to file Form 1120. They use Code 12 in Part 1 of Form 7004 to file an extension
- Single member LLCs: For single member LLCs, the IRS treats them as individuals so they must file Schedule C of Form 1004. They have to use Form 4868 to file an extension and not 7004.
Federal Deadlines For LLCs
Once you file Form 7004, the LLC tax return extension due date is pushed forward by six months after the filing deadline.
| LLC Type | IRS Form | Original Deadline | Extension After Filing 7004 |
|---|---|---|---|
| Multi-member LLC (Partnership) | Form 1065 | March 15 | September 15 |
| LLC elected as S-Corps | Form 1120-S | March 15 | September 15 |
| LLC elected as C-Corps | Form 1120 | April 15 | October 15 |
Note: LLCs elected as C-corps with fiscal year ending in June (6/30) get a 7-month extension.
Penalties for Missing the LLC Deadline
Understanding the penalties for late LLC return can help you plan ahead to avoid compliance issues later down the line.
Partnership late filing penalty: The penalty for a late LLC return for partnerships is $245 for each month or part of a month (for a maximum of 12 months) the failure continues, multiplied by the total number of persons who were partners in the partnership.
S-Corp late filing penalty: For S-corps, the penalty is $245 per month (or part of a month) × number of shareholders in your corporation, if no tax is due. However, if tax is owed, both the shareholder-based penalty plus an additional 5% of the unpaid tax per month (capped at 25% of the tax owed) is due.
C-Corp late filing penalty: The late filing penalty for C-corps filing Form 1120 is 5% of the unpaid tax due for each month or part of a month the return is late (up to 25% of the unpaid tax plus interest amount).
| LLC Type | Late Filing Penalty |
|---|---|
| Partnership | $245 per partner per month |
| S-Corp | $255 per shareholder per month |
| C-Corp | 5% of unpaid tax per month |
Filling Out Form 7004 for an LLC (Step-by-Step)
Here is a step-by-step guide to filling out Form 7004 to request a filing deadline extension for an LLC.
Basic Business Details: Business name, EIN, address, and tax year. This must match IRS records.
Part I- Line 1: Choose the correct form codes. For LLCs, the codes would be Code 09 for multi-member LLC or partnerships (Form 1065), Code 25 for S-Corps (Form 1120-S), and Code 12 for C-Corps (Form 1120)
Part II- Lines 2-4: Checkboxes to check if your LLC is a:
- Foreign corporation without a U.S. Office
- Parent company of a group of companies
- Meets special qualification under Regulations 1.6081-5
Part III- Line 5s & 5b: Mention the year you are filing for (calendar year, for most s-corps)
Part III- Lines 6, 7, & 8: These lines report the estimated tax owed, aggregated total payments, and the balance due for the year.
State Extension Rules for LLCs
LLC extension state rules differ from state to state. Most states like Arizona, Alaska, Missouri, Pennsylvania, etc., automatically route federal LLC form 7004 extensions.
Some states may require extra steps such as attaching a copy of the federal Form 7004 be when filing the state return or that a separate state extension form be filed, such as Georgia (Form IT-303), New Jersey (Form CBT-200-T), etc.
There are also a handful of states that automatically grant extensions without any filing, like Hawaii, Montana, etc.
Paper Filing vs E-Filing: What’s The Best Way To File Form 7004 for LLCs?
E-filing is the recommended filing process and one of the best ways to file LLC extension. It offers a faster processing time and usually gives more accurate filings.
The IRS also accepts paper filing of Form 7004. But this process requires more manual effort and is a slow process.
| Paper Filing | E-filing with EZExtension | |
|---|---|---|
| Speed | 4 to 6 weeks of processing time | Processes the form in less than 24 hours |
| Proof of mail to recipient | USPS mailing receipt | IRS-stamped PDF sent directly to recipient inbox |
| Error Checking | None or Manual | AI-powered automatic error flagging |
| Cost | Printing + postage + mailing costs | Flat fee of $9.99 |
How to E-File Form 7004 with EZExtension
The best way to file LLC extension is by using the 3-step process given by EZExtension.
1. Upload the details of the LLC
Enter the details of the LLC including EIN, business name, or address. You can do these manually or import them directly from your accounting system. Based on your LLC classification, the system will automatically pick the correct code for Line 1 of Form 7004.
2. Review the form and pay taxes (if required)
Review the information of the form. Use AI error scan to flag any errors. If you have any tentative tax to be paid, you can pay it via EFW/EFTPS.
3. Send the form to the IRS
Review the information and transmit the form to the IRS to get your automatic 6-month filing extension.
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FAQs
1. Does every LLC file Form 7004?
Not every LLC needs to file Form 7004. Only LLCs that elected or chose to be taxes as partnerships or corporations file Form 7004 for an extension. Single-member LLCs file using Form 4868.
2. What is the 7004 code for an LLC partnership?
The code to be used on Part 1 of Form 7004 for an LLC which is taxed as a partnership is Code 09.
3. How long is an LLC extension?
An LLC extension for LLCs taxed as partnerships or corporations is generally 6 months.
4. Does 7004 extend payment?
No, filing form 7004 extends on the deadline for filing returns and not for paying estimate tax. Any taxes owed must be paid by the original due date to avoid penalties.
5. Who signs 7004 for an LLC?
Signatures are not required for filing Form 7004.
6. Can a single member LLC use 7004?
A single member LLC is taxed as an individual extension, so they file extensions using Form 4868 and not Form 7004.
7. What is the penalty for a late 1065 filing?
The penalty is $255 per member per month (max 12 months) for late filing of Form 1065.
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