Filing 83(b) Election: Introducing Eqvista’s New Premium Feature

For employees and founders, there is a provision under IRC to pay taxes upfront on the FMV of Restricted Stock at the time of granting for beneficial tax purposes, which is called an 83(b) election. In short, you set your tax basis of your shares early on (early tax payment), and any gains down the road would be under capital gains tax vs. income tax. In some cases, this can be tax exempt under QSBS status.

Our Premium clients can effortlessly handle the complete process, from form creation to downloading. Besides, Our team of certified experts will provide you with proficient support through guidance, assistance, and other relevant help to eliminate the stress and difficulties of filing an 83(b) election.

Common Challenges in Filing 83(b) Election 

The 83(b)election filing process can be a tedious process, and most founders don’t fully understand it. Plus this filing needs to be finished and filed with the IRS in 30 days after a share grant has been issued, so you need to be sure you have everything prepared. 

In addition to this, you should establish the FMV of your share grants beforehand, which is usually set by the 409a valuation of the company.

Therefore, the decision to file 83(b) election requires careful consideration and suggested consulting qualified professionals. Our team of certified experts at Eqvista will support you with guidance on the filing process. They possess the necessary knowledge and expertise to help you with your needs.

Effortlessly File 83(b) elections with Eqvista 

Startup founders and employees must understand the risks of failing to file an 83(b) election because of increased tax obligations. The decision to file 83(b) election requires careful consideration and suggested consulting qualified professionals. Filing an 83(b) can be challenging for founders due to its complexity. Eqvista has simplified the process by providing easy and seamless features on our platform.

Our team of certified experts at Eqvista will support you with guidance on the filing process. Eqvista provides a hassle-free solution to file an 83(b) election, which can reduce your stress and make the process easier. After you generate 83(B) and send it to the shareholder, they have 30 days to mail the form to the IRS (Internal Revenue Service) after grant issuance. We make sure to file a grant within 30 days.

Effortlessly File 83(b) elections with Eqvista 

 A well-timed 83(b) election can result in huge tax savings. Considering this, Eqvista developed an advanced feature for hassle-free filing of 83(b) elections. Eqvista’s software is distinguished by its exceptional features that set it apart from other software.

• 83(b) Election Form creation – Users can be enabled to generate forms with just one click. All the details entered in the 83(b) form will be saved and automatically updated on the shareholder’s page. After generating the form and sending it to the shareholder, you have a provision to check the status of the form and send it to the IRS within 30 days of grant issuance. 
• Electronically signing 83(b) Election form – Eqvista provides the functionality to electronically sign the 83(b) form by shareholders. You can electronically sign the 83(b) Election and view it. You can either choose to “Draw Signature” or “Type Signature”. Additionally, you have the option to save and download this form. 
• Printing /Downloading 83(b) Election – You can download and manually fill in the required information in the 83(B) Election. By simply clicking the “download 83(b), you can download and save your file in PDF format. The downloaded form has three pages of general instructions for completing it.
• Editing 83(b)Election – If you want to edit the shareholder details on the form, you can click the “Edit” button and easily make the desired changes. The revised shareholder information will be updated and available in 83(B) form. Eqvista’s platform also has an option to edit FMV.
• Status Tracking and Reminders for 83(b)Election – You can easily track the status of 83(b); the “Status” of each form created can be Incomplete, Completed, Skipped, or deadline Missed. As soon as the 83(B) form is created, two reminder emails are sent to the shareholder requesting to sign the form.
• Generating and sending to the IRS – One of the advanced features of Our platform is that it allows you to generate and send to the IRS. If you want us to file for you, please contact us, and we will take care of the rest.

Streamline your 83(b) election Filing With Eqvista’s user-friendly software

It is crucial to fill out the 83(b) election form accurately and completely with all necessary information. The software was built to allow users to navigate through this.  Platform gives two options for filing 83(b) form. You can fill in the form from the admin side or ask the shareholder to fill it out directly on the platform.

Eqvista ensures that these advanced features, electronic signing ,reminders and status tracking will ease the filing process of 83(b) election and ensure compliance.

Avoid costly Mistakes with Eqvista’s Expert support

Eqvista has a team of experienced and certified experts who can assist you with the 83(b) election filing process. Our team will provide the necessary support, guidance, and assistance to make the process easy and stress-free. 

Eqvita’s Platform simplifies the 83(b) form generation process, tracks filing deadlines, and allows for easy form signing and downloading. You can check out our support articles to get to know the process of 83(b) election or contact us for more information on our processes.

Streamline Your 83(b) Election with Eqvista 

83(b) elections can be beneficial for employees and Owners. Opting for 83(b) may initially result in lower tax payments, particularly if the value of restricted stock and stock options rises in future years. It can reduce tax obligations if the income reported is modest when granted.

Our Enterprise clients receive expert support for a stress-free experience as part of their subscription. Alternatively, we also offer this service separately for Freemium clients – Our 83(b) election filing service starts at $150, which includes consultation and form filing by our expert team. Start your journey with Eqvista today to secure your financial stability!