How to make an 83(b) election and submit the form to the IRS with LTSE Equity.
When a qualifying event occurs (early exercise of an option grant or a grant of RSAs), Stakeholders will be asked if they’d like to make an 83(b) election. If yes, LTSE Equity will produce the completed form and guide the user through submission of the form to the IRS.
Stakeholders will be notified via action items, on the grant details page. They will then are prompted to decide whether or not they would like to make an 83(b) election:
- If yes, LTSE Equity populates the relevant details on the 83(b) election form.
- Instructions on the form will guide the Stakeholder through the submission of the form to the IRS.
- A QR code on the form will help the Stakeholder navigate back into LTSE Equity to confirm that they mailed the form to the IRS.
LTSE Equity then attaches the form to the Option grant and notifies the company Admin. Admins also receive the same prompts as Stakeholders, to ensure that all parties are aware that an 83(b) election can be made, and have the ability to set 83b filing statuses on behalf of Stakeholders.
*Action Items will list all viable grants that have been issued/exercised in 2023 (past grants will be available, but not explicitly highlighted via the Action Items menu).