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Official form guide
Form 433-BOIS: 433-B (OIC) (sp)
Internal Revenue Service Form 433-B (OIC) (sp) is a collection of financial information used with Form 656 to propose an Offer in Compromise for businesses. Corporations, partnerships, and LLCs taxed as corporations must complete it, and the offer amount must be greater than $0.
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IRS Form 433-BOIS - 433-B (OIC) (sp)
Internal Revenue Service Form 433-B (OIC) (sp) is a collection of financial information used with Form 656 to propose an Offer in Compromise for businesses. Corporations, partnerships, and LLCs taxed as corporations must complete it, and the offer amount must be greater than $0.
Risk Radar
Scan points- 1Do not use Form 433‑B (OIC) (sp) for a sole‑proprietor business.
- 2Filing this form for a sole‑proprietor business instead of Form 433‑A.
- 3Entering a negative number on any line instead of writing “0”.
- 4Failing to round dollar amounts to the nearest whole dollar as required.
- 5Leaving equipment value fields blank when multiple pieces exist without attaching a separate list.
Plain English
This form gathers a business's assets, income, and expenses so the IRS can evaluate an Offer in Compromise. It must be filed together with Form 656 and includes calculations of a minimum offer amount. Only entities like corporations, partnerships, and certain LLCs use it, not sole proprietors.
Submission Date
- Filing date: 2026-04-23 11:10:42
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when the business is a corporation, partnership, or LLC taxed as a corporation (including other LLCs) and an Offer in Compromise is being filed with Form 656.
- Do not use it when the business is a sole proprietorship.
- Check Form 433-A (OIC) instead when the business is a sole proprietorship.
Form selector
Use this form or another form?
Business is a sole proprietorship needing an Offer in Compromise
Sole proprietorships must report personal income, not business assets
✓ Verify business type is sole proprietorship
Business filing an Offer in Compromise (any eligible entity)
Form 656 is the actual Offer in Compromise request that must accompany Form 433-B
✓ Ensure Form 656 is completed and attached
Corporation, partnership, or LLC taxed as corporation not in bankruptcy
This form collects required asset and income info for the offer
✓ Confirm no active bankruptcy proceeding
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Business assets (Section 2)
Recent bank statements, loan statements, depreciation tables · Financial records of the business
Vehicle details (Section 2)
Make, model, year, mileage, current market value · Vehicle registration and online valuation sites (e.g., Kelley Blue Book)
Real estate disposition (Section 2)
Indication whether property is for sale or planned sale · Property listing or owner statement
Equipment valuation (Section 2)
Type, market value, loan balances, apply 0.8 multiplier · Equipment inventory and loan documents
Average monthly gross income (Section 3)
Recent 6‑12 month invoices, sales records, P&L · Business income statements
Before you submit
- 1Confirm the business is a corporation, partnership, or LLC taxed as a corporation.
- 2Gather recent bank statements, loan statements, and depreciation schedules for all assets.
- 3Record make, model, year, mileage, and current market value for each vehicle.
- 4List any additional properties, vehicles, or equipment on a separate attachment.
- 5Calculate each asset’s value using market value × 0.8 minus loan balances, rounding to the nearest dollar and entering 0 for negatives.
- 6Enter the average monthly gross income in Section 3 using six‑to‑twelve‑month documentation.
- 7Answer the bankruptcy question in Section 6 and ensure the offer amount in Section 5 is greater than $0.
How to file this form
- 1Complete all required fields on Form 433‑B (OIC) (sp) with asset, income, and expense data.
- 2Attach Form 656 and any separate sheets detailing additional assets.
- 3Sign the completed Form 433‑B (OIC) (sp).
- 4Make a photocopy of the entire package for your records.
- 5Mail the package to the IRS address indicated on the form.
- 6Obtain a mailing receipt as proof of filing.
Known limitations
- 1Not for businesses owned by a single individual (sole proprietorships).
- 2Not applicable if the business is currently in an open bankruptcy proceeding.
- 3Only valid when used together with Form 656 for an Offer in Compromise.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The form is the 04/2026 revision (Rev. 4‑2026). The source does not indicate a newer version or specific changes.
What changed or needs a fresh check
- Edition date — confirm the revision reads 4‑2026 on the form.
- Form number — confirm the header shows Form 433‑B (OIC) (sp).
- Associated Form 656 — confirm Form 656 is attached.
- Bankruptcy question — confirm answer is provided on Section 6.
- Signature — Not stated in the official source
Quick Facts
Downloads
After you file
- 1Retain the copy of the filed Form 433‑B (OIC) and all attachments for at least three years.
- 2Monitor mail for an IRS acknowledgment or request for additional information.
- 3If the IRS issues a determination, keep the decision letter in your records.
- 4To correct any error, file an amended Form 433‑B (OIC) with updated information.
- 5Continue to pay any required estimated taxes while the offer is under review.
Sources
- SRCForm p.1 — revision date shown as Rev. 4‑2026.
- SRCForm p.1 — business types listed: corporation, partnership, LLC taxed as corporation, other LLC.
- SRCForm p.1 — note that sole proprietorships must not use this form.
- SRCForm p.1 — states the form must be used with Form 656.
- SRCForm p.2 — requires recent bank statements, loan statements, mortgage details, and depreciation tables.
- SRCForm p.2 — requires make, model, year, mileage, and current market value for vehicles.
- SRCForm p.3 — asks whether real estate is currently for sale or planned to be sold.
- SRCForm p.4 — instructs to calculate equipment value using market value × 0.8 minus loan balances, round to nearest dollar, and enter 0 for negatives.
- SRCForm p.5 — includes bankruptcy question and states businesses in bankruptcy are ineligible.
Common confusion points
Do I need to use this form for a sole proprietorship?
The source specifies sole proprietorships must use Form 433‑A (OIC) instead.
→ Verify the business classification before starting.
How is the asset market value calculated?
The form requires market value multiplied by 0.8 minus loan balances.
→ Use a reputable valuation source and apply the 0.8 factor as instructed.
What should I do if the calculation results in a negative number?
The instructions state to enter “0” for any negative line.
→ Check the result and replace negatives with zero.
Can I include depreciation as an expense?
Non‑cash expenses like depreciation are excluded by the form’s guidance.
→ Exclude depreciation and only list cash expenses.
Do I have to list every asset on the main form?
The form allows additional assets to be listed on separate attachments.
→ Attach a supplemental sheet for any extra assets.
Is a current bankruptcy a barrier to filing?
Section 6 asks if the business is in bankruptcy and states ineligible if so.
→ Confirm the bankruptcy status is “No” before submitting.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 433‑B (OIC) — file an amended form to correct mistakes.
Questions about IRS Form 433-BOIS
What is IRS Form 433-BOIS used for?
This form gathers a business's assets, income, and expenses so the IRS can evaluate an Offer in Compromise. It must be filed together with Form 656 and includes calculations of a minimum offer amount. Only entities like corporations, partnerships, and certain LLCs use it, not sole proprietors.
Who must file IRS Form 433-BOIS?
Corporations, partnerships, and LLCs classified as corporations (including other LLCs) must file IRS Form 433-B (OIC) (sp). Sole proprietors must not use this form.
What information does IRS Form 433-BOIS require?
The form collects total asset values, equipment values (lines 5a‑5b), gross monthly income (lines 6‑10), gross monthly expenses (lines 11‑20), and calculates a minimum Offer in Compromise amount using boxes A, E, and F.
How do I complete IRS Form 433-BOIS?
First, list all business assets and equipment, applying the 0.8 market‑value factor and subtracting loan balances. Next, enter gross monthly income and expenses, rounding each to the nearest dollar and replacing any negative numbers with “0”. Then calculate the minimum offer amount in boxes A, E, and F, ensuring it exceeds $0, and attach the form to Form 656. Finally, sign the form before submission.
What happens if IRS Form 433-BOIS is filed incorrectly?
If the business is currently in a bankruptcy proceeding, the IRS will deem it ineligible for an Offer in Compromise.
Do I need to use this form for a sole proprietorship?
The source specifies sole proprietorships must use Form 433‑A (OIC) instead. Verify the business classification before starting.
How is the asset market value calculated?
The form requires market value multiplied by 0.8 minus loan balances. Use a reputable valuation source and apply the 0.8 factor as instructed.
What should I do if the calculation results in a negative number?
The instructions state to enter “0” for any negative line. Check the result and replace negatives with zero.
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