26 U.S.C. § 6039
§ 6039. Returns required in connection with certain options
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1964 by the Public Law 88-272. Last changed March 23, 2018 by the Consolidated Appropriations Act, 2018.
Every change, newest first (8)
- March 23, 2018Consolidated Appropriations Act, 2018
- December 20, 2006Public Law 109-432
- July 22, 1998IRS Restructuring and Reform Act of 1998
- November 5, 1990Omnibus Budget Reconciliation Act of 1990
- August 13, 1981Economic Recovery Tax Act of 1981
- December 29, 1979Public Law 96-167
- October 4, 1976Tax Reform Act of 1976
- February 26, 1964Public Law 88-272 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Structure
Every corporation—
which in any calendar year transfers to any person a share of stock pursuant to such person’s exercise of an incentive stock option, or
which in any calendar year records (or has by its agent recorded) a transfer of the legal title of a share of stock acquired by the transferor pursuant to his exercise of an option described in section 423(c) (relating to special rule where option price is between 85 percent and 100 percent of value of stock),
shall, for such calendar year, make a return at such time and in such manner, and setting forth such information, as the Secretary may by regulations prescribe.
Every corporation making a return under subsection (a) shall furnish to each person whose name is set forth in such return a written statement setting forth such information as the Secretary may by regulations prescribe. The written statement required under the preceding sentence shall be furnished to such person on or before January 31 of the year following the calendar year for which the return under subsection (a) was made.
For purposes of this section—
Any option which the corporation treats as an incentive stock option or an option granted under an employee stock purchase plan shall be deemed to be such an option.
A statement is required by reason of a transfer described in subsection (a)(2) of a share only with respect to the first transfer of such share by the person who exercised the option.
Any corporation which transfers any share of stock pursuant to the exercise of any option described in subsection (a)(2) shall identify such stock in a manner adequate to carry out the purposes of this section.