S Corporation Requirements (1 of 2) Shareholder requirements No more than 75 shareholders Individuals, estates or certain types of trusts U.S. citizens or resident aliens Tax-exempt public charity or private foundation may be a shareholder as of19984 S Corporation Requirements(1 of 2) Shareholder requirements –No more than 75 shareholders – Individuals, estates or certain types of trusts –U.S. citizens or resident aliens –Tax-exempt public charity or private foundation may be a shareholder as of 1998