§ 83(b) Election Form
This § 83(b) election form has been established and is
being maintained as part of the
World Wide Web project. Comments
are welcome on the design or content of this form.
Under § 83(b) an election
can be made to recognize income currently upon the transfer of
"restricted" property in connection with the performance of services.
You can prepare a § 83(b)
election by completing the form at the end of this document which follows
some general rules regarding the election. Click on the Prepare
Form button at the end of the form to submit it or on the Clear
Entries button to start over.
If your browser permits, you may wish to save the resulting election as a
for subsequent editing.
The decision as to whether to make a §
83(b) election has serious tax consequences; you are strongly
urged to consult a tax professional with regard to both the availability
and advisability of the election.
- A § 83(b) election
must be filed not later than 30 days following the transfer of property. Income Tax Regs. §
- The § 83(b) election is
filed with the internal revenue office with which the person rendering the
services files his or her income tax return; a copy of the election must be
included with that person's income tax return for the taxable year in
which the property is transferred. Income Tax
Regs. § 1.83-2(c).
- The person rendering the services must provide a copy of the
§ 83(b) election to the
person for whom the services are rendered and to the person to whom the
property is transferred, if that person is not the person rendering the
services. Income Tax Regs. §
- A § 83(b) election may
only with the consent of the Internal Revenue Service; that consent
will be given only in very limited circumstances.
Income Tax Regs. §
- Requirements under state or local income tax laws vary. For example,
in some states the filing of a §
83(b) election with the Internal Revenue Service constitutes
the making of
the election under comparable state provisions, while in other states a
separate state election is required. You are also urged to consult a tax
regarding state or local tax implications.
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