The IRS has updated information in Question 7 in “Schedules K-2 and K-3 Frequently Asked Questions (Forms 1065, 1120S, and 8865)” found on the IRS website.[1} The question now discloses that the electronic filing version of the 1065 Schedules became available on March 20 and that the S corporation electronic filing option will be available on July 24, 2022. As well, the question indicates that taxpayers may use the PDF attachment filing option for the entire 2022 filing season.

The revised question and answer now reads:

7. May these schedules be filed electronically and what is the timeline? (updated April 27, 2022)

Yes, these schedules are currently available to be electronically submitted. However, Modernized e-File (MeF)/Extensible Markup Language (XML) electronic filing capability for the schedules K-2 and K-3 for tax year 2021 will not be available as of the beginning of the 2022 filing season (January 2022). The timeline for the MeF/XML filing capability is provided below. The MeF/XML filing capability for the Form 1065 was available starting on March 20, 2022. If you electronically file your return before the time frames, submit the schedules as separate PDF files attached to the return. Taxpayers will also be able to file their Schedules K-2 and K-3 via PDF attachments for the entire 2022 filing season.[2]

[1] “Schedules K-2 and K-3 Frequently Asked Questions (Forms 1065, 1120S, and 8865)”, IRS website, April 27, 2022 version, https://www.irs.gov/businesses/schedules-k-2-and-k-3-frequently-asked-questions-forms-1065-1120s-and-8865 (retrieved April 28, 2022)

[2] “Schedules K-2 and K-3 Frequently Asked Questions (Forms 1065, 1120S, and 8865)”, IRS website, April 27, 2022 version