Reporting
Prepare Form 3921 supporting data
Review recorded ISO exercise certificates, identify missing fair market values, and export supporting Form 3921 data from Cap Table.
On this page
Start with the US reporting requirement
Select Reports, then Form 3921. The report organizes recorded ISO exercises for a selected calendar year. Form 3921 concerns stock transferred on exercise of qualifying incentive stock options, subject to the IRS instructions and exceptions. It is separate from Form 3922 for certain employee stock purchase plan transfers.
Use the current IRS instructions for Forms 3921 and 3922 to determine filing and recipient-statement obligations. The app produces supporting data, not an electronically submitted return.
Check the grant and certificate
Confirm that each applicable grant is recorded as an ISO and that each exercise has a linked certificate with its actual exercise date. The certificate provides the dated event and exercise price. The report uses the recorded valuation covering that exercise date for FMV.
The Exercises with no certificate section identifies exercised quantities that cannot yet be assigned to a dated certificate. Use Issue certificate after checking the original exercise records. Do not record the same exercise again to make it appear in the report.
Review the mapped values
| Field | Record to check |
|---|---|
| Grant date | Original option grant date |
| Exercise date | Linked exercise certificate date |
| Exercise price | Price paid per share on the certificate |
| FMV at exercise | Valuation covering the exercise date |
| Shares transferred | Quantity on the exercise certificate |
Resolve missing FMV warnings before completing the filing data. Names, taxpayer identification numbers, addresses, and any additional corporation details must be reconciled with the filer’s records. The cap table is not a complete taxpayer-information system.
Export and complete the filing separately
Choose the year and select Export CSV. The report displays calendar reminders, but verify the applicable year’s furnishing and filing dates, electronic-filing requirements, exceptions, and any relief through the IRS. A CSV download does not furnish a recipient statement or file a return.
Retain the final filed version and delivery evidence separately from the working cap table. If exercise records change, determine whether the filing needs a correction.