New Electronic Filing Option For Section 83(b) Elections

I. Introduction

On November 7, 2024, the Internal Revenue Service (IRS) released Form 15620, Section 83(b) Election ("Form 15620"), standardizing the requirements to make an election pursuant to Section¹ 83(b) ("Section 83(b) Election"), with the promise of making electronic filing available for Form 15620 in the future. The IRS has made good on its promise and now permits electronic filing of Form 15620 to make a Section 83(b) Election through the IRS website. This change eases the administrative burden of having to physically mail the Section 83(b) Election (including a sprint to the mailroom on certain occasions to meet the 30-day deadline).

This alert explains the process for electronically submitting Form 15620 and provides a brief background on the Section 83(b) Election.