15620 Section 83(b) Election

Form

Department of the Treasury - Internal Revenue Service

15620

OMB Number
1545-0074

Section 83(b) Election

(October 2024)

The undersigned taxpayer hereby elects, pursuant to § 83(b) of the Internal Revenue Code of 1986, as amended, to include in gross
income as compensation for services the excess (if any) of the fair market value of the property described below over the amount paid
for the property.
1. The taxpayer’s name, taxpayer identification number (TIN), and address:
Taxpayer’s name

Taxpayer’s TIN

Address (number and street)
City

State or province

ZIP or postal code

Country

2. The property which is the subject of this election is (describe property and quantity below)

3. The date the property was transferred
4. Taxable year for which the election is being made (taxable year that includes the date the property was transferred as reported in Box 3)
5. The property is subject to the following restrictions (describe applicable restrictions below)

6. The total fair market value of the property at the time of transfer is
a. Value per item
b. Quantity
x

=

7. For the property transferred, the taxpayer paid a total of
a. Price paid per item
b. Quantity
x

=

c. Total fair market value

c. Total price paid

8. The amount to include in gross income for the taxable year is (the result of the amount reported in Box 6(c) minus the amount reported in
Box 7(c))

9. Name, TIN, and address of the person for whom the taxpayer is providing services in connection with the transfer of property:
Name

TIN

Address (number and street)
City

State or province

ZIP or postal code

Country

The undersigned taxpayer is the person performing the services in connection with which the property was transferred. The taxpayer
will file this election with the Internal Revenue Service office with which taxpayer files his or her annual income tax return not later than
30 days after the date of transfer of the property. A copy of the election also will be furnished to (i) the person for whom the services
were performed and (ii) the transferee of the property if the taxpayer and the transferee of the property are not the same person. Under
penalty of perjury, the undersigned taxpayer declares that, to the best of undersigned taxpayer’s knowledge and belief, the information
entered on this Form 15620 is true, correct, complete, and made in good faith.
Taxpayer signature
Catalog Number 95376D

Date signed
www.irs.gov

Form 15620 (10-2024)

Page 2

Instructions for Form 15620, Section 83(b) Election
Section references are to the Internal Revenue Code unless otherwise noted.

General Instructions
Future Developments
For the latest information about developments related to Form 15620 and its instructions, such as legislation enacted after they were
published, go to IRS.gov/Form15620.

What’s New
PDF fillable Form 15620. To ease election filing requirements, Form 15620 has been made downloadable and fillable in a pdf format,
available online at Forms, instructions and publications | Internal Revenue Service (irs.gov).

Purpose of Form
When substantially nonvested property is transferred in connection with the performance of services, the person who performs the
services may elect under IRC § 83(b) (83(b) election) to currently include in his or her gross income the excess (if any) of the property’s
fair market value at the time of the transfer over the amount (if any) paid for the property at the time of transfer, rather than when the
property later becomes substantially vested. Refer to the Restricted Property section of Publication 525 for a description of the tax
consequences of substantially nonvested property transferred in connection with the performance of services.

Where to File
Submit this completed and signed Form 15620 to the IRS via mail with the IRS office with which the person who performed the
services files his or her federal income tax return.

Revocation of an 83(b) Election
An 83(b) election may not be revoked except with the consent of the IRS. Taxpayers are encouraged to review applicable federal
guidance regarding the revocability of 83(b) elections. For additional guidance regarding the revocation of an 83(b) election, refer to
Treas. Reg. § 1.83–2(f) and Revenue Procedure 2006-31.

Specific Instructions
Who May File
When substantially nonvested property is transferred in connection with the performance of services, the person who performs the
services (e.g., an employee or an independent contractor) may file this form.

When to File
An 83(b) election must be filed no later than 30 days after the date the property was transferred. In accordance with IRC § 7503, if the
thirtieth day following the transfer of property falls on a Saturday, Sunday or legal holiday, the election will be considered timely filed if it
is postmarked by the next succeeding day which is not a Saturday, Sunday or legal holiday. For more information, see IRC § 83(b)(2)
and Treas. Reg. § 1.83–2(b).
Box 1. Name, TIN, and Address. Enter the name, TIN, and address of the person making the 83(b) election.
Box 2. Description of Property. Enter a description of the property that was transferred, including the quantity transferred. For
example, “1,000 shares of Class A common stock of Corporation B.”
For more information on what constitutes property for purposes of IRC § 83, see Treas. Reg. § 1.83-3(e).
Box 3. Date Property was Transferred. Enter the date the property was transferred.
For more information on what constitutes a transfer of property for purposes of IRC § 83, see Treas. Reg. § 1.83-3(a).
Box 4. Taxable Year for Which the Election is Made. Enter the taxable year for which the 83(b) election is being made. This is the
taxable year that includes the date the property was transferred as reported in Box 3. For example, “calendar year 2025” or “fiscal year
ending May 31, 2025.”
Box 5. Description of Applicable Restriction(s) on the Property. Enter a description of the restrictions applicable to the substantially
nonvested property that was transferred. For example, “the terms of the restricted stock agreement provide that 1,000 shares of Class
A common stock of Corporation B will be forfeited if the person making the election ceases to provide services to Corporation B as an
employee prior to April 1, 2027.”
For more information on what constitutes substantially nonvested property for purposes of IRC § 83, see Treas. Reg. § 1.83-3(b).
Box 6. Fair Market Value of the Property at the Time of Transfer.
a. Enter the fair market value per item of property at the time of transfer.
b. Enter the quantity transferred.
c. Enter the total fair market value of the property (Box 6(a) multiplied by Box 6(b)).
The fair market value is determined without regard to any lapse restriction, as defined in Treas. Reg. § 1.83-3(i).
Box 7. Amount (if any) Paid for the Property.
a. Enter the price paid (if any) per item of property.
b. Enter the quantity transferred.
c. Enter the total price paid for the property (Box 7(a) multiplied by Box 7(b)).
For more information on what constitutes the amount paid for property for purposes of IRC § 83, see Treas. Reg. § 1.83-3(g).
Catalog Number 95376D

www.irs.gov

Form 15620 (10-2024)

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Box 8. The Amount (if any) to Include in Gross Income. Enter the total amount (if any) included in gross income for the taxable year
indicated in Box 4. Calculate this amount by subtracting the total amount paid for property reported in Box 7(c) from the total fair market
value of the property at the time of transfer reported in Box 6(c).
Box 9. Name, TIN, and Address of Service Recipient. Enter the name, TIN, and address of the person for whom the person making
the 83(b) election is providing services in connection with the transfer of property.

Paperwork Reduction Act Notice
We ask for you to obtain the information on this form to carry out the Internal Revenue laws of the United States. You are required to
obtain this information. You are not required to obtain the information requested on a form that is subject to the Paperwork Reduction
Act unless the form displays a valid OMB control number. Books or records relating to a form, or its instructions must be retained as
long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return
information are confidential, as required by Internal Revenue Code section 6103. The time needed to complete and file this form will
vary depending on individual circumstances. The estimated burden for individual filers is approved under OMB control number
1545-0074, for the estimated averages, see the instructions for your income tax return. If you have comments concerning the accuracy
of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. See the instructions for the
tax return with which this form is filed.

Catalog Number 95376D

www.irs.gov

Form 15620 (10-2024)