Transfer of Stock Acquired Through an Employee Stock Purchase Plan Under Section 423(c)
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IRS Form 3922
Using the E-File Magic 3922 software you can print, mail, and e-File your 3922 forms with ease. We support all 3922 form copies, except for Copy A (the e-File transmittal takes the place of copy A), including:
- 3922 Form Copy B - Form Employee
- 3922 Form Copy C - For Corporation
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Who Must File
(according the the IRS)
Every corporation, which in any calendar year records, or has by its agent recorded, a transfer of the legal title of a share of stock acquired by the employee pursuant to the employee's exercise of an option granted under an employee stock purchase plan and described in section 423(c) (where the exercise price is less than 100% of the value of the stock on the date of grant, or is not fixed or determinable on the date of grant), must, for that calendar year, file Form 3922 for each transfer made during that year.
A return is required by reason of a transfer described in section 6039(a)(2) only for the first transfer of legal title of the shares by the employee, including the first transfer of legal title to a recognized broker or financial institution. If a contractual agreement exists or is entered into with a recognized broker or financial institution pursuant to which shares acquired upon exercise of the option will be immediately deposited into a brokerage account established on behalf of the employee, then the deposit of shares by the employee into the brokerage account following the exercise of the option is the first transfer of legal title of the shares acquired by the employee, and the corporation is only required to file a return relating to that transfer of legal title.
Shares of stock transferred as a result of the exercise of an option described above must be identified by a special serial number or color for accurate reporting of the transfer of legal title.
Exception. A Form 3922 is not required for the first transfer of legal title of a share of stock by an employee who is a nonresident alien (as defined in section 7701(b)) and to whom the corporation is not required to provide a Form W-2, Wage and Tax Statement, for any calendar year within the time period beginning with the first day of the calendar year in which the option was granted to the employee and ending on the last day of the calendar year in which the employee first transferred legal title to shares acquired under the option.
For this purpose, the term “corporation” is defined in section 7701(a) and includes, but is not limited to:
The corporation issuing the stock,
- A related corporation of the corporation,
- Any agent of the corporation,
- Any party distributing shares of stock or other payments in connection with the plan (for example, a brokerage firm), and
- Any party in control of the payment of remuneration for employment to the employee.
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