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Form 15620: Section 83(b) Election
IRS Form 15620 is used to make a Section 83(b) election when substantially nonvested property is transferred in connection with services. The form allows the taxpayer to include excess value in gross income now rather than later; this election must be filed no later than 30 days after the transfer date.
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IRS Form 15620 - Section 83(b) Election
IRS Form 15620 is used to make a Section 83(b) election when substantially nonvested property is transferred in connection with services. The form allows the taxpayer to include excess value in gross income now rather than later; this election must be filed no later than 30 days after the transfer date.
Risk Radar
Scan points- 1File the election within 30 days of property transfer to ensure timely reporting.
- 2Failing to file copies of Form 15620 to both the service recipient and the property transferee.
- 3Omitting the Taxpayer signature and Date signed required on the form.
- 4Incorrectly calculating Box 8 by failing to subtract the total amount paid (Box 7(c)) from the fair market value (Box 6(c)).
- 5Not entering the taxable year that includes the date of transfer in Box 4.
Plain English
If you receive property that isn't fully yours right away (nonvested), this form allows you to report its full value for tax purposes immediately. By making this election, you are choosing to pay taxes on the excess value now instead of waiting until the property becomes completely vested later.
Submission Date
- Filing date: 2025-08-07 22:10:10
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when substantially nonvested property is transferred in connection with the performance of services, and the person performing the services wishes to elect under IRC § 83(b) to include excess fair market value in gross income now.
- Do not use it when an alternative election method is available; alternatively, an 83(b) election may be made by filing a written statement that satisfies the requirements of Treas. Reg. § 1.83-2.
- Check for other forms only if directed by tax counsel, as no specific alternative form number is listed in the official source.
Form selector
Use this form or another form?
Understanding the tax consequences of substantially nonvested property transferred in connection with services
Provides a description of the tax consequences for this type of property transfer
✓ Check Publication 525
Filing an election by written statement instead of using the form
The source notes that filing a written statement satisfying Treas. Reg. § 1.83-2 is an alternative method
✓ No specific form number provided
Determining general tax return information required for submission
This form dictates the primary federal income tax return to which the election relates
✓ No specific form number provided
Deadline or filing window
The 83(b) election must be filed no later than 30 days after the date the property was transferred. If the thirtieth day falls on a Saturday, Sunday or legal holiday, the election is considered timely if it is postmarked by the next succeeding day which is not a Saturday, Sunday or legal holiday.
Checklist
What you need before filling it out
Taxpayer’s name, TIN, and address
The taxpayer's personal identification details · Form p.1 (Box 1)
Date the property is transferred
The specific date of transfer · Form p.1 (Box 3)
Total fair market value (Box 6(c))
Calculation: Value per item multiplied by Quantity · Form p.1 (Box 6)
Total amount paid for the property (Box 7(c))
Calculation: Price paid per item multiplied by Quantity · Form p.1 (Box 7)
Taxable year for which the election is being made
The taxable year that includes the date of transfer · Form p.1 (Box 4)
Filing Deadline
Must be filed no later than 30 days after the property was transferred · Form p.2, Who May File
Before you submit
- 1The form must include the Taxpayer’s name, TIN, and address.
- 2Boxes 6(c) (Total fair market value) and 7(c) (Total price paid) must be accurately calculated.
- 3Box 8 (Total amount to include in gross income) must reflect Box 6(c) minus Box 7(c).
- 4The form must be signed by the Taxpayer under penalties of perjury.
- 5The filing date must be within 30 days after the property was transferred.
- 6A copy must be submitted to the person for whom the services are performed.
- 7If the taxpayer and the transferee are different, a second copy must be sent to the transferee of the property.
How to file this form
- 1Complete Form 15620 by filling in all required details, ensuring Box 8 reflects the calculation (Box 6(c) minus Box 7(c)).
- 2Sign and date the form under penalties of perjury.
- 3Mail the completed and signed Form 15620 to the IRS office where the person who performs the services files a federal income tax return.
- 4Submit copies of the completed and signed Form 15620 to both the person for whom the services are performed and, if necessary, to the transferee of the property.
Known limitations
- 1You must file Form 15620 within 30 days of the property transfer date listed in Box 3; confirm this strict deadline immediately after the transfer occurs.
- 2The form's purpose is limited to reporting excess value from nonvested property transferred for services, and it does not cover all types of income or assets.
- 3Box 8 requires calculating gross income by subtracting the total amount paid (Box 7(c)) from the fair market value (Box 6(c)); verify this calculation method using current IRS guidelines.
- 4Submit the signed Form 15620 to the specific IRS office where you file your federal return, and provide copies if the recipient or transferee differs.
- 5Filling out Form 15620 requires a declaration under penalties of perjury, but filing the form does not guarantee tax acceptance or processing by the IRS.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Form 15620 (Rev. 4-2025). The source does not indicate any changes from a previous revision.
What changed or needs a fresh check
- Edition date — confirm the revision reads Rev. 4-2025
- OMB Number — confirm the OMB control number is 1545-0074
- Mailing address — Not stated in the official source, but mail to the IRS office with which the person who performs the services files a federal income tax return
- Signature — ensure the form includes the Taxpayer signature and Date signed
Quick Facts
Downloads
After you file
- 1Submit a completed and signed Form 15620 to the IRS office where the person performing the services files a federal income tax return.
- 2The person who performs the services must submit a copy of the completed and signed Form 15620 to the person for whom the services are performed.
- 3If the person performing the services and the property's transferee are different people, the person performing the services must also submit a copy of the completed and signed Form 15620 to the transferee of the property.
- 4Books or records relating to Form 15620 and its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law.
Sources
- SRCForm p.1 — Form 15620 is used to elect, 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 over the amount paid for the property.
- SRCForm p.1 — The undersigned taxpayer agrees to provide a copy of the election to (i) the person for whom the services are performed and (ii) the transferee of the property, if the taxpayer and the transferee of the property are not the same person.
- SRCInstructions p.2 — 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 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.
- SRCInstructions p.2 — The person who performs the services must submit a copy of the completed and signed Form 15620 to the person for whom the services are performed, and also to the transferee if they are not the same person.
- SRCInstructions p.2 — An 83(b) election must be filed no later than 30 days after the date the property was transferred.
- SRCForm p.3 — The total amount included in gross income is calculated 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).
Common confusion points
Who needs to file this form?
The person who performs the services (e.g., an employee or independent contractor) files Form 15620.
When must I submit this election?
An 83(b) election must be filed no later than 30 days after the date the property was transferred.
Do I need to fill out all sections?
Providing a response in Box 9 (Name, TIN, and Address of Service Recipient) is optional and not required to make a valid 83(b) election.
What happens if I miss the deadline?
The source does not specify penalties for filing late, only that the election must be filed within 30 days of transfer.
Who receives copies of this form?
Copies are required for the person receiving services and, if applicable, the transferee of the property.
What is the purpose of Section 83(b)?
It allows a taxpayer to include in gross income the excess (if any) of the property’s fair market value at transfer over the amount paid for the property.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- The IRS provides guidance regarding the revocation of an 83(b) election.
Questions about IRS Form 15620
What is IRS Form 15620 used for?
If you receive property that isn't fully yours right away (nonvested), this form allows you to report its full value for tax purposes immediately. By making this election, you are choosing to pay taxes on the excess value now instead of waiting until the property becomes completely vested later.
Who must file IRS Form 15620?
The person who performs the services (e.g., an employee or independent contractor) may file Form 15620 to make an 83(b) election.
What information does IRS Form 15620 require?
The form requires details including the name and address of the service recipient (Box 9), a description of the property transferred (Box 2), and calculations for the amount to include in gross income (Box 8).
When is IRS Form 15620 due?
An 83(b) election must be filed no later than 30 days after the date the property was transferred.
Where do I file IRS Form 15620?
Submit the completed and signed Form 15620 to the IRS via mail with the IRS office where the person who performs the services files a federal income tax return. The service provider must also provide copies to both the recipient of services and the property transferee if they are not the same person.
How do I complete IRS Form 15620?
Fill out all required boxes, including Box 3 (Date Property is Transferred) and calculating Box 8 by subtracting the total amount paid (Box 7(c)) from the fair market value (Box 6(c)). The form must be completed with a Taxpayer signature and Date signed.
What happens if IRS Form 15620 is filed incorrectly?
The undersigned taxpayer declares that the information entered on this Form 15620 is true, correct, and complete under penalties of perjury.
Who needs to file this form?
The person who performs the services (e.g., an employee or independent contractor) files Form 15620.
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