Transcript FORM 3921 – COPY A – ELECTRONIC FILING - CapMxHelp

CapMx® - FORM 3921 – COPY A – ELECTRONIC FILING
Tax Year 2012
Form 3921 – Electronic Filing
Information Covered:
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Form 3921 – General Info
Copy A – Electronic Filing
How to Generate in CapMx
URLs, Phone Numbers, and Where to Find
Stuff…
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Form 3921 – Electronic Filing
Form 3921 – General Info
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Form 3921 – Where Do I Find It?
Information on Form 3921 can be found at:
http://www.irs.gov/pub/irs-pdf/f3921.pdf
Attention:
This form is provided for informational purposes only. Copy A appears in red, similar to the official IRS
form. Do not file Copy A downloaded from this website with the SSA. The official printed version of this
IRS form is scannable, but the online version of it, printed from this website, is not. A penalty may be
imposed for filing forms that can’t be scanned. See the penalties section in the current General
Instructions for Forms W-2 and W-3 for more information.
To order official IRS forms, call 1-800-TAX-FORM (1-800-829-3676) or Order Information Returns and
Employer Returns Online, and we’ll mail you the scannable forms and other products.
You may file Forms W-2 and W-3 electronically on the SSA’s website at Employer Reporting Instructions
& Information. You can create fill-in versions of Forms W-2 and W-3 for filing with SSA. You may also
print out copies for filing with state or local governments, distribution to your employees, and for your
records.
See IRS Publications 1141, 1167, 1179 and other IRS resources for information about printing these tax
forms.
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Form 3921 – Copy A – a few filing reminders…
Filed with the IRS
Hard-copy (paper) filing
▪ Permitted if < 250 forms/transactions
▪ IRS encourages (prefers) electronic filing
even if < 250
Electronic filing (e-filing)
▪ Required if => 250 forms/transactions
▪ Do not aggregate with any other information
return (see next slide)
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Form 3921 – Electronic Filing
IRS Publication “2012
General Instructions for
Certain Information Returns
(Forms 1097, 1098, 1099,
3921, 3922, 5498 and W-2G)”
explains when electronic filing
is required.
Get the publication noted
above at:
http://www.irs.gov/pub/irspdf/i1099gi.pdf
The publication covers
general info regarding the
listed information returns, and
contains limited info on
electronic filing.
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Form 3921 – Copy A – Electronic Filing
IRS Publication 3609, “Filing Information
Returns Electronically”, is a good overview of
using electronic filing.
Find the publication at:
http://www.irs.gov/pub/irs-pdf/p3609.pdf
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Form 3921 – Copy A – Electronic Filing
Electronic filing due date: APRIL 1, 2013
Not sure you will be ready to file by that date?
What do you do? File for an automatic 30-day extension by completing
Form 8809, Application for Extension of Time to File Information
Returns.
The form may be submitted on paper, or through the FIRE system
either as a fill-in form or an electronic file.
▪ If using the FIRE system to file Form 8809, you do not need a TCC.
▪ If using the FIRE system to file Form 3921, you do need a TCC.
No signature or explanation is required for the extension. However, if
you will electronically file Form 3921, you must file Form 8809 by the
April 1, 2013 due date of the Form 3921 in order to get the 30-day
extension.
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CapMx can Generate the Electronic File for Form 3921
With CapMx, electronic filing is straight forward.
CapMx will generate the properly formatted (per the IRS
specifications) data file to be filed with the IRS through
the IRS FIRE system.
The only way you can file electronically with the IRS is
through their FIRE system.
To file electronically through the IRS FIRE system, you
will need:
▪ An account on the FIRE system; and
▪ A “TCC” (Transmitter Control Code)
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What You Need to Do NOW
Electronic filing
▪ Download and read the “2012 General Instructions for Certain
Information Returns (Forms 1097, 1098, 1099, 3921, 3922,
5498 and W-2G)”
▪ Setup a FIRE system account (see the next slide)
Apply for a TCC by completing and faxing Form 4419,
Application for Filing Information Returns Electronically.
In order to ensure timely filing, submit Form 4419 at least 45
days before the due date of the return.
▪ Get the form here:
http://www.irs.gov/pub/irs-pdf/f4419.pdf
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What You Need to Do NOW
Form 4419 - Application for TCC for use on the FIRE site
▪ New users are required to submit Form 4419, Application for Filing
Information Returns Electronically, to request authorization to file
Information Returns with the IRS. Mail your completed Form 4419 to:
Internal Revenue Service
Enterprise Computing Center – Martinsburg Information Reporting
Program
230 Murall Drive
Kearneysville, WV 25430
Or fax (will get a faster response) your completed Form 4419 to:
877-477-0572 (toll-free)
Upon approval, a five-character alpha/numeric Transmitter Control Code
(TCC) will be assigned and mailed to you. Form 4419 should be
submitted to IRS at least 45 days before the due date of the return.
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What You Need to Do NOW
Familiarize yourself with the IRS FIRE system and setup an
account
▪ FIRE = Filing Information Returns Electronically
▪ Website: fire.irs.gov
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What You Need to Do NOW
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Form 3921 – Electronic Filing
Form 3921 – Copy A – Electronic File
How to Generate in CapMx
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Steps to Generate the Electronic File for Form 3921
At the Reports Main
Menu, select “Form
3921” under the
“Option & Stock
Purchase Right”
category.
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Steps to Generate the Electronic File for Form 3921
At the report generation screen, CapMx will automatically default to
the 2012 tax year, i.e., the calendar year in which the ISOs were
exercised.
• The year cannot be earlier than 2010 because Form 3921 is
required only for ISO exercises after 12/31/09.
• For ISO exercises before 01/01/10, run the “ISO Year-End
Statement”.
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Steps to Generate the Electronic File for Form 3921
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At the report generation screen, complete the information on the bottom grid
for “Electronic File Generation – Copy A”. Click “Generate”.
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A warning message appears regarding having the correct FMVs (Fair
Market Values) in place. Click “OK” to continue or “Cancel” to exit to make
adjustments as needed to the FMV Table.
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After clicking “OK”, the file is generated via a File Download window.
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Click “Save” and save it to your computer in a “.txt” format on the “Save As”
window. You can change the file name but do not change the “.txt”
extension
•
NOTE: The file is generated in an ASCII format in strict accordance with
IRS requirements for electronic files. If you “Open” the file the layout will be
unfamiliar to you and any change to the file will make it unacceptable to the
IRS. Accordingly, simply “Save” the file.
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Steps to Generate the Electronic File for Form 3921
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Steps to Generate the Electronic File for Form 3921
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Copy A of Form 3921 - “Corrected” Forms
At the generation screen, CapMx has a
“Corrected” check box.
Checking that box will cause all of the
selected exercises to have the “Corrected”
status on the electronic file.
When generating “Corrected” electronic file,
be sure to select only those exercises that
are actually being corrected.
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After Generating the Electronic File…
Go to the fire.irs.gov site and upload the file. The
screens at the FIRE site are self-explanatory;
you should not have any trouble uploading your
file.
It will take a couple of days for the IRS to send
an email regarding whether or not the file went
through.
If the file fails, the email will tell you what the
problem is.
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Form 3921 – Electronic Filing
URLs, Phone Numbers, and Where to Find
Stuff…
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URLs, Phone Numbers, & Where to Find Stuff…
1. Information on Form 3921 can be found at:
http://www.irs.gov/pub/irs-pdf/f3921.pdf
2. Download Form 8809 here:
http://www.irs.gov/pub/irs-pdf/f8809.pdf
3. IRS Publication “2012 General Instructions for
Forms, 1099, 1098, 3921, 3922, 5498 and W-2G”
is here:
http://www.irs.gov/pub/irs-pdf/i1099gi.pdf
4. IRS Publication 3609, “Filing Information Returns
Electronically”, is here:
http://www.irs.gov/pub/irs-pdf/p3609.pdf
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URLs, Phone Numbers, & Where to Find Stuff…
5. Application for TCC – Form 4419 can be found
at:
http://www.irs.gov/pub/irs-pdf/f4419.pdf
6. Create your FIRE System Account here:
fire.irs.gov
7. IRS Forms Order Desk:
1-800-829-3676
8. IRS Information Help Line:
1-866-455-7438
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Form 3921 – Electronic Filing
Really?!?!?
What If I Don’t Want to Deal with This – Can’t
I Get Someone Else to Do It For Me?
The IRS FIRE website has a list of approved
vendors for handling electronic filing.
The NASPP is a good resource for finding a
consultant.
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Questions?
Contact your CapMx Account Manager
directly.
Call the CapMx Support Line:
415-426-7931
email the CapMx Support Team:
[email protected]
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