Why did I receive Form 3921?
If you exercised any Incentive Stock Options (“ISOs”) in the past year, your employer is required to send you a “Copy B” of IRS Form 3921 for each exercise by January 31 of the following year.
Pulley’s tool for generating Form 3921s allows the company to enable sharing the Copy B of the forms with their employees directly through the platform. If a cap table admin enabled this option, you will see a download button in your Portfolio view:
I received Form 3921, what next?
Verify that the information on Form 3921 is accurate and matches your records.
Box 1: The date that your options were granted
Box 2: The date you exercised your options
Box 3: The exercise price of your options
Box 4: The fair market value of your options on the exercise date (this will be provided by your employer)
Box 5: The number of options exercised
Once confirmed, file Form 3921 along with the rest of your taxes.
I haven't received Form 3921, what should I do?
Contact your employer. Your employer is required to file Form 3921 with the IRS as well, so it is important that you also file the form with your personal taxes.
I filed my taxes, do I need to keep Form 3921?
Yes. ISOs impact your taxes when you eventually sell the stock you received after exercising your options. Hold on to your Form 3921s to help calculate the tax impact of your stock sale.