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Quick answer: Fax Form 8023 to 844-253-9765 (toll-free), the IRS electronic fax line for this form. Send one signed Form 8023 per fax, up to 100 pages, with no EIN or SSN on the cover sheet. It’s due by the 15th day of the 9th month after the acquisition date. No electronic fax? Post it to OTSA Mail Stop 4916 in Ogden.
Form 8023, Elections Under Section 338 for Corporations Making Qualified Stock Purchases, is how a buyer makes a section 338 election for a company it has acquired, called the target. A section 338(g) election treats the target as having sold its assets. A 338(h)(10) election generally treats it as making a deemed asset sale and then liquidating.
When a section 338 election is possible
The election follows a qualified stock purchase: buying at least 80% of the total voting power and value of a corporation’s stock within a 12-month acquisition period. The acquisition date is the first day on which that purchase is complete, and it’s the date the filing deadline counts from.
A 338(h)(10) election has an extra condition: the target has to be bought from a selling consolidated group, a selling affiliate, or S corporation shareholders.
Who files and signs
Every signature the election needs goes on the form, or on a “SIGNATURE ATTACHMENT” when there are several.
| Election | Who files | Who signs |
|---|---|---|
| Section 338(g) | The purchasing corporation | The purchasing corporation (for affiliated but non-consolidated buyers, a person authorised for each corporation) |
| Section 338(h)(10) | The purchasing corporation jointly with the common parent of the selling group, or the selling affiliate | Both sides |
| Section 338(h)(10), S corporation target | The purchasing corporation jointly with the S corporation shareholders | Every S corporation shareholder, whether or not they sold stock in the purchase |
Count the deadline carefully. It’s the 15th day of the 9th month after the acquisition date, so an acquisition on 10 January means a deadline of 15 October. Fax it with enough time left to resend if a transmission fails.
Sending it
- Electronic fax: 844-253-9765, toll-free.
- One form per fax: only one Form 8023 in each transmission, up to 100 pages.
- Signed: the IRS won’t accept an unsigned Form 8023.
- Cover sheet: the subject “Form 8023”, the sender’s name, title, phone number and address, the taxpayer’s name, the date, and the page count including the cover sheet. No sensitive information such as an EIN or SSN.
- No receipt: the IRS doesn’t send one. Check your fax transmission log shows every page went through, and keep it as your proof.
- No electronic fax? Post it to Internal Revenue Service, OTSA Mail Stop 4916, 1973 Rulon White Blvd., Ogden, UT 84201.
There’s no undo. Under the regulations, a section 338 election is irrevocable once made, so settle the decision before you fax.
The deemed asset sale itself is reported separately, on Form 8883.
Foreign targets and foreign buyers
If the target is a controlled foreign corporation (CFC), the election isn’t valid unless the affected US persons are told about it in writing. Each US shareholder also files Form 8883 with its Form 5471. When the purchasing corporation is foreign, each US shareholder attaches Form 8023 to its Form 5471 for the tax year that includes the acquisition date.
How to fax Form 8023
- Confirm the purchase qualifies and fix the acquisition date.
- Complete Form 8023 and collect every signature the election needs, on a signature attachment if there are several.
- Add a cover sheet with the subject “Form 8023”, the sender’s details, the taxpayer’s name, the date and the page count, and no EIN or SSN. Our fax cover sheet generator makes one.
- Fax it to 844-253-9765 before the deadline: one Form 8023 per fax, 100 pages or fewer.
- Keep the fax transmission log with the deal file; the IRS won’t send a receipt.
Deal teams can fax from email with EveryFax, which has a two-week trial. Municorn Fax sends the signed PDF from a phone or computer and keeps the confirmation; your first single-page test fax is free.
What counts as a qualified stock purchase?
Can a 338(h)(10) election be made for any target?
Who signs for an S corporation target?
Faxing another IRS form? See our list of IRS fax numbers, including the forms sent by businesses and tax professionals.
Sources and IRS references
- Taxpayers can now fax Form 8023: one form per fax, 100 pages, the cover sheet, signing, and no IRS receipt. IRS page last reviewed 2 June 2026; checked 10 October 2026. irs.gov
- 26 CFR 1.338-2: “A section 338 election is irrevocable.” Checked 10 October 2026. law.cornell.edu
- About Form 8883: reporting the deemed sale of assets under section 338. IRS page last reviewed 30 March 2026. irs.gov
- Instructions for Form 8023 (Rev. 10/2023): the elections, who files and signs, the deadline, the fax number and its limits, and the foreign rules. IRS page last reviewed 30 April 2026; checked 10 October 2026. irs.gov
