Best podcast show, ever, hands down ( a little sarcasm but I do love the show). How does a person who doesn’t have an SSN apply for S Corp election? My understanding of the IRS requirements is that if a shareholder can pass the substantial presence test and all other requirements are met then there is nothing stopping them from forming an S Corp. I’ve heard from unreliable sources that to be an S Corp owner the person must have an SSN but I don’t find anything in the IRS instructions or otherwise that confirm that. The person applying does have an ITIN and can prove to have been present in the US for longer than the SP test requires. I am a tax preparer who has a high number of clients that file with ITINS and are told their only choice is to open a C Corp, I’d love to be able to offer a better option and convert my C Corp clients to S Corp if possible. P.S. I have the client who owns a barber shop + lawn care business, just throwing that out there 
Hello I have the same question…
it was proposed to me that for an S Corp with a shareholder that has an ITIN he should open an LLC and pay the LLC for the reasonable compensation and use the single member LLC as a disregarded entity with no expenses instead of putting them on payroll and paying them with a W-2.
My understanding is that in an S Corp the reasonable compensation portion should be paid by W-2 and whatever else is left as a K-1.
I recognize that the FICA payments paid under a ITIN would not get credited to any account with SSA.
when/if the ITIN holder qualifies for a SSN he can claim all of the years paid under ITIN to the new SSN
Any recommendations are greatly appreciated.
- Chris