- Who uses 433-B and who uses 433-A
- Section 1: business information
- Section 2: the people behind the business
- Section 3: other financial information
- Section 4: assets and liabilities
- Section 5: the monthly income and expense statement
- Easy items to forget
- Filling it in without delays
- The verdict
- Frequently asked questions
Form 433-B, the Collection Information Statement for Businesses, is the financial statement a partnership, corporation or LLC gives the IRS when it owes tax and wants the account resolved. It lists the business's details, owners, bank accounts, assets, debts and average monthly income and expenses. The current revision is June 2026, and the form warns that leaving any entry space empty can get your request rejected or badly delayed, so write N/A where something doesn't apply.
Everything below comes from the IRS's Form 433-B (Rev. June 2026), as of October 2026.
Who uses 433-B and who uses 433-A
| Form | For |
|---|---|
| Form 433-B | Businesses: partnerships, corporations, LLCs classified as corporations and other LLCs |
| Form 433-A | Wage earners and self-employed individuals, including sole proprietors |
If you run your business as a sole proprietor, the individual form is the one that fits, because Form 433-A has its own business information sections for people with self-employment income.
Section 1: business information
This covers the name, address, EIN, type of entity, date established, number of employees, monthly gross payroll and how often you make tax deposits. It also asks whether you're enrolled in the Electronic Federal Tax Payment System, and whether you sell online. If you do, you list your payment processor, such as PayPal, and every card merchant account with its issuing bank.
Section 2: the people behind the business
Here you list partners, officers, LLC members and major shareholders, foreign and domestic, with their home address, phone, ownership percentage, annual salary or draw, and one more question that matters: whether each person is responsible for depositing payroll taxes. Answer that one carefully, because it identifies who handled the deposits reported on Form 941.
Section 3: other financial information
This is a run of yes or no questions, and each Yes needs details:
- Does the business use a payroll service provider or reporting agent?
- Is it a party to a lawsuit, or has it ever filed bankruptcy?
- Do officers, partners, employees or other related parties owe the business anything?
- Have any assets been transferred out of the business for less than full value in the last 10 years?
- Does it have affiliations such as a parent or subsidiary company?
- Do you expect income to rise or fall?
- Is it a federal government contractor?
The 10-year transfer question is the one to slow down on. Selling equipment to an owner cheaply, or moving property to a related company, has to be listed with its value, date and who received it.
Section 4: assets and liabilities
| Item | What to include |
|---|---|
| Cash on hand | Cash not in the bank, plus whether there's a safe on the premises |
| Bank accounts | Online and mobile accounts such as PayPal, savings and checking accounts, other deposit accounts, and stored value cards such as payroll cards |
| Accounts and notes receivable | E-payment receivables, factoring companies, bartering or online auction accounts, and government contracts |
| Investments | Stocks, bonds, funds, stock options, certificates of deposit and commodities such as gold |
| Digital assets | Cryptocurrency, NFTs and smart contracts, plus the names of everyone with access to the private keys or wallets |
| Available credit | All lines of credit and credit cards |
| Real property, vehicles, equipment | Owned, leased or rented property, vehicles of every kind, machinery, inventory and intangible assets |
| Business liabilities | Notes and judgments not listed elsewhere |
Assets in foreign countries count too, on attachments if needed.
Section 5: the monthly income and expense statement
You pick a typical period of the prior 3, 6, 9 or 12 months and show average monthly income and expenses, marking whether you use cash or accrual accounting. Income lines cover gross receipts, rent, interest, dividends and other cash receipts. Expenses cover materials, inventory, wages, rent, supplies, utilities and phone, vehicle costs, repairs, insurance and current taxes, which the form defines to include the employer's share of employment taxes.
Easy items to forget
The form is built to find value that isn't sitting in a business checking account, so these are the lines that tend to come back with questions:
- payment processor and card merchant accounts if you sell online (Section 1)
- payroll cards and other stored value cards (Section 4)
- government contracts, including contracts you've been awarded but haven't started, which go under accounts and notes receivable
- amounts that officers, partners or employees owe the business (Section 3)
- assets held in other countries, which the form asks for in every asset section
If you're unsure whether something belongs, it's safer to list it with a note than to leave it off; the IRS can ask for proof of anything you report.
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Filling it in without delays
- Answer every box, using N/A rather than leaving blanks.
- Pick the income period that reflects a normal run of months, and say which one you used.
- List every account, including payment apps and payroll cards.
- Attach extra sheets wherever the space runs out.
- Have an officer, partner or LLC member sign the certification under penalties of perjury.
The form also says the IRS may ask you to back up what you report with tax returns, profit and loss statements, bank and loan statements, and bills for recurring expenses. Keep those together before you send the form.
The verdict
Form 433-B is long, but it rewards being complete rather than clever. The IRS can verify almost every line, so an honest, fully answered statement with N/A in the empty spaces moves faster than a tidy one with gaps. Give the 10-year asset transfer question and the digital assets section real attention; they're where incomplete answers show up.
Frequently asked questions
What is Form 433-B used for?
It's the Collection Information Statement for Businesses, the financial statement a business gives the IRS so its tax account can be resolved.
What is the difference between Form 433-A and Form 433-B?
Form 433-A is for wage earners and self-employed individuals; Form 433-B is for businesses such as partnerships, corporations and LLCs.
Can I leave boxes blank on Form 433-B?
The form says to complete every entry space with current data or N/A, and warns that blanks may lead to rejection or delay.
Does Form 433-B ask about cryptocurrency?
Yes. Section 4 asks for digital assets such as cryptocurrency, NFTs and smart contracts, and who has access to the private keys.
What period do I use for monthly income on Form 433-B?
Use the prior 3, 6, 9 or 12 month period to show typical average monthly income and expenses.
Who signs Form 433-B?
An officer, partner or LLC member signs the certification under penalties of perjury.
Do I list government contracts on Form 433-B?
Yes. Federal, state and local government contracts go under accounts and notes receivable, including contracts that are awarded but haven't started.
