Proof of ownership

[judys3]

I have a customer sole owner of an 1120S.  He has sold the property that is in the 1120S name.  The title company is wanting proof of his ownership from the IRS.  I know the original EIN was gotten in 1986 and he can request a copy of the letter CP575.  By mail takes to long and by phone the so called business and specialty line you never get anyone. 

Do y'all have any suggestions?

[IRonMaN]

Doesn't a copy of the last tax return do that?  The 1986 EIN means nothing since the stock could have changed hands fifteen times since that date.

[judys3]

Title says no even though on transactions I have been a part of they accepted and EIN given over the phone for a general partnership.  

Correct even though it hasn't. 

[IRonMaN]

The K-1s indicate who the owners are.  Are you dealing with someone at a title company that doesn't know what day it is?  

[judys3]

This would be my assumption.  I let my customer know the K1 detail that is apart of the 1120S shows him as 100%.

[Accountant-Man]

I know what day it is. 10:48 AM.

[rbynaker]

Good points.  I fail to see why it's relevant who owns the S Corp.  If it's that old it's probably an actual Corp and not a SMLLC electing to be taxed as a S Corp.  If it's a Corp, I don't see why the ownership matters.  More important IMO would be determining who is authorized by the Corp (a separate legal entity) to sign contracts and/or sell property (and a formal corporate resolution to sell the real estate might also be handy.)  There's probably an annual report filed with the State listing the corporate officers, that's much more relevant than something that happened 30+ years ago.  <shrug>

[qbteachmt]

I like to reinforce that your taxpayer signs anything having to do with S Corp business as "President." That should show on everything.