Form 15620 - Section 83(b) Election (October 2024)

Sep 19, 2026

Form 15620 is the Internal Revenue Service election form used when substantially nonvested property is transferred in connection with the performance of services. The form allows the taxpayer to elect under IRC §83(b) to include the excess of the property’s fair market value at transfer over the amount paid in gross income for the election’s taxable year. It provides sections for taxpayer identity, property details, transfer and taxable year dates, fair market value and price calculations, service-provider information, signatures, filing deadlines, and IRS revocation rules.

LanguageEnglish

CategoryForms

FormatPDF

Pages3

Reading Time1 min

AccessFree to download

General Instructions

Future Developments

What’s New

Purpose of Form

Where to File

Revocation of an 83(b) Election

Specific Instructions

Who May File

When to File

Box 1: Name, TIN, and Address

Box 2: Description of Property

Box 3: Date Property was Transferred

Box 4: Taxable Year for Which the Election is Made

| Form 15620
(October 2024) | Department of the Treasury -Internal Revenue Service
Section 83(b)Election | OMB Number
1545-0074 | | --- | --- | --- | The undersigned taxpayer hereby elects,pursuant to §83(b)of the Internal Revenue Code of 1986,as amended,to include in grossincome as compensation for services the excess (if any)of the fair market value of the property described below over the amount paidfor 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 Box3) 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 itemb.Quantityc.Total fair market valueX 7.For the property transferred,the taxpayer paid a total of a.Price paid per itemb.Quantityc.Total price paid X 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 inBox7(c)) | 9.Name,TIN,and address of the person for whom the taxpayer is providing services in connection with the transfer of prop | | | --- | --- | | Name | TIN | | Address (number and street) | | erty: | City | State or province | ZIP or posta code | Country | | --- | --- | --- | --- | | | | | | The undersigned taxpayer is the person performing the services in connection with which the property was transferred.The taxpayerwill flethis election with the Internal Revenue Service office with which taxpayer files his or her annual income tax return not later than30 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 serviceswere performed and (i)the transferee of the property if the taxpayer and the transferee of the property are not the same person.Underpenalty of perjury,the undersigned taxpayer declares that,to the best of undersigned taxpayer's knowledge and belief,the informationentered on this Form 15620 is true,correct,complete,and made in good faith. | Taxpayer signature | Date signed | | --- | --- | Form 15620(10-2024) Catalog Number 95376D www.irs.gov # 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 werepublished,go to IRS.gov/Form15620. ## What's New PDF fillable Form 15620.To ease election filing requirements,Form 15620 has been made downloadable andfilable 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 theservices 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'sfair 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 theproperty later becomes substantially vested.Refer to the Restricted Property section of Publication 525 for a description of the taxconsequences of substantially nonvested property transferred in connection with the

FAQs

Who may file Form 15620 for a Section 83(b) election?

The person who performs the services in connection with the transfer may file the form, such as an employee or an independent contractor.

When must the 83(b) election be filed?

The election must be filed no later than 30 days after the date the property was transferred, with timeliness adjustments if the 30th day falls on a weekend or legal holiday.

What does the election accomplish under IRC §83(b)?

It allows the taxpayer to currently include in gross income the excess of the property’s fair market value at the time of transfer over the amount paid, rather than waiting until the property substantially vests.

Sep 19, 2026

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