SPS/GZ to Provide IRC 6039 Compliance Services

Sept. 1, 2010 - PRLog -- Chicago, IL – Stock Plan Solutions/Green Zapato LLC (SPS/GZ), a leader in stock administration and outsourcing, today announced that it is now offering a complete solution for Internal Revenue Code (IRC)  § 6039 filings and mailings. This new offering responds to the Internal Revenue Service’s recent issuance of final regulations under Section 6039.  Under these regulations, beginning with transactions in 2010, public companies will be required to provide participants with Form 3921 for all Incentive Stock Option (ISO) exercises that result in shares being transferred to a brokerage account and Form 3922 upon first transfer of legal title of shares acquired pursuant to an Employee Stock Purchase Plan (ESPP).  Companies will also be required to file these forms with the IRS.  

The filing deadlines are imposed, beginning in January 2011, for transactions from the previous calendar year.  Statements must be furnished to participants by January 31st.  Forms must be filed with the IRS by February 28th for manual (paper) filers and by March 31st for electronic filers.

"We have developed a unique fully outsourced solution to enable companies to complete their IRC 6039 filings and mailings accurately and on time, without incurring penalties," said Mary Pat Wood, an SPS/GZ co-founder and principal.  

The SPS/GZ comprehensive service offering includes professional support through the entire process; compilation and formatting of data into our proprietary template; data review; preparation, electronic filing and mailing of forms; and archival copying of all forms on a disc for optimal record keeping.  "Our end-to-end solution combines unsurpassed professional support by CPAs and CEPs with a time-saving, cost-effective process, all managed by SPS/GZ," added Ms. Wood.  "IRC 6039 reporting deadlines coincide with yearly or quarterly audits and reviews for most public companies. That is a very busy time for these companies, so they really need to plan ahead."

Additional information is available on SPS/GZ’s website at http://www.spsgz.com/irc6039.html.

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About Stock Plan Solutions/Green Zapato

Stock Plan Solutions/Green Zapato is a full-service administration outsourcing and consulting firm based in Chicago. Businesses trusts SPS/GZ for the administration of their equity compensation plans and other stock plan services, knowing that these critical tasks will be managed by SPS/GZ’s seasoned professionals (CEPs and CPAs).

To learn more about SPS/GZ, call (888) 375-3049 or visit http://www.spsgz.com/.