SCHEDULE B-1                Information on Certain Shareholders of an S Corporation
(Form 1120-S)
(Rev. December 2020)                              ▶ Attach to Form 1120-S.                         OMB No. 1545-0123
Department of the Treasury      ▶  Go to www.irs.gov/Form1120S for the latest information.
Internal Revenue Service  
Name of corporation                                                                                Employer identification number 

Information on Any Shareholder That Was a Disregarded Entity, a Trust, an Estate, or a Nominee or Similar 
Person at Any Time During the Tax Year (Form 1120-S, Schedule B, Question 3)
                                                    (b)                                            (d) 
                            (a)                   Social Security Number (SSN) (c)                 Name and SSN or EIN (if any) of Individual or 
Name of Shareholder of Record—Disregarded Entity, or Employer Identification   Type of Shareholder Entity Responsible for Reporting Shareholder’s 
Trust, Estate, Nominee or Similar Person          Number (EIN) (if any) of      of Record          Income, Deductions, Credits, etc., From 
                                                  Shareholder of Record                            Schedule K-1

For Paperwork Reduction Act Notice, see the Instructions for Form 1120-S.      Cat. No. 60837X     Schedule B-1 (Form 1120-S) (Rev. 12-2020)

Schedule B-1 (Form 1120-S) (Rev. 12-2020)                                                                                    Page 2

General Instructions                                             Specific Instructions
Section references are to the Internal Revenue Code unless       Column (a)
otherwise noted.
                                                                 Enter the name of the shareholder (owner) of record in column 
Future Developments                                              (a). For example:
For the latest information about developments related to         • If a disregarded entity  (for example, a single member limited 
Schedule B-1 (Form 1120-S) and its instructions, such as         liability company (LLC) that did not elect to be taxed as a 
legislation enacted after they were published, go to             corporation for federal income tax purposes) is the shareholder 
www.irs.gov/Form1120S.                                           (owner) of record, enter the name of the disregarded entity.
Purpose of Form                                                  • If a nominee or similar person (for example, a guardian, 
                                                                 custodian, or agent) is the shareholder (owner) of record, enter 
Use Schedule B-1 (Form 1120-S) to provide the information        the name of the nominee or similar person.
applicable to any shareholder in the S corporation that was a 
disregarded entity, a trust, an estate, or a nominee or similar  Column (c)
person at any time during the tax year.                          Enter the type of shareholder (owner) of record. For example, 
If the shareholder was a disregarded entity, provide the         the shareholder (owner) of record may be a disregarded entity, 
information even if the name, address, and social security       trust, estate, nominee, guardian, custodian, agent, or similar 
number (SSN) or employer identification number (EIN) (if any) of person.
the owner of the disregarded entity was entered on Schedule 
K-1 (Form 1120-S), Shareholder’s Share of Income, Deductions,    Column (d)
Credits, etc. If the shareholder was a nominee, guardian,        Enter the name and SSN or EIN (if any) of the individual or entity 
custodian, or agent, provide the information even if the name,   responsible for reporting shareholder’s income, deductions, 
address, and SSN or EIN (if any) of the person for whom the      credits, etc., from Schedule K-1 (Form 1120-S). For example:
stock was held was entered on Schedule K-1 (Form 1120-S).
                                                                 1. If a disregarded entity is the shareholder (owner) of record, 
Who Must File                                                    the owner of the disregarded entity must be eligible to be an     
                                                                 S corporation shareholder. Enter the name and SSN or EIN (if 
Schedule B-1 (Form 1120-S) must be filed by all S corporations   any) of the owner. For example, if a single member LLC owns 
that answer “Yes” to Form 1120-S, Schedule B, question 3.        stock in the corporation, and the LLC is treated as a 
Attach Schedule B-1 to Form 1120-S.                              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.