I established a c-corporation using Stripe atlas to proceed with kickstarter in Korea.
Please make sure that each stock recipient:
Purchases shares by making a payment for the value of their shares to the company’s bank account (stock recipients can do this with a wire transfer, a check, or some other payment mechanism). According to the Common Stock Purchase Agreements, here’s how much each founder owes:
Files an 83(b) election (very important!). Startup attorneys typically strongly recommend that founders with stock subject to vesting file an 83(b) election with the IRS to avoid potentially enormous personal tax obligations as the company’s value increases. Read more here. 83(b) elections must be filed within 30 days of the stock purchase and there is no way to file a late election, so we recommend considering the election immediately. You can download an 83(b) election template and instructions here.
The above mail arrived on August 31st.(I think that the stock issue was completed starting from that email.)
What I’ve checked, 83(b) elections can be held within 30 days of stock purchase. I have only completed registering Mercury bank account to atlas. I haven’t sent the payment yet.
Please help me with some advice.
Is there still a chance for me to submit an 83(b) election?
Also, I would like to know if it could be a problem to delay the purchase of stocks by sending the payment late.
Thank you so much.