Lost my IRS 83B election confirmation letter. What should I do now?

Oh thank goodness, that's such a relief to hear! So just to be clear, I don't need to include anything physical with my return? Just write "83(b) election on file" at the top of my 1040? Also, what happens if I ever get audited? Is there a way to get proof from the IRS that they received my election if I need it in the future?

That's right, you don't need to include anything physical with your return related to the 83(b) election. Just write "83(b) election on file" at the top of your Form 1040 for the tax year when you made the election. If you ever get audited, you can request a copy of your 83(b) election from the IRS by filing Form 4506 (Request for Copy of Tax Form). It might take some time to process, but the IRS keeps these records. Alternatively, if you have the certified mail receipt showing you sent it within the 30-day window, that can also serve as evidence that you complied with the filing requirements.

How long did it take for them to get your documentation? I made an 83(b) election about 2 years ago and just realized I should probably have some proof it was properly filed in case of future audit.

I'm a bit skeptical. Couldn't you just file the Form 4506 yourself? Why pay a service to do something you can do directly with the IRS?

It took about 10 days total, which was way faster than I expected. They have some kind of expedited process they use that's much quicker than if you request it yourself. You absolutely can file Form 4506 yourself, but having tried both ways, the DIY route took me over 2 months when I tried it previously for another tax document. Plus there's the confusion of exactly which form to use (4506 vs 4506-T vs others) and where to send it. The service handles all that and knows exactly how to word the request so it gets processed correctly the first time.

Wait, how does this actually work? The IRS just calls you back because some service asked them to? That sounds too good to be true.

Come on, this has to be a scam. There's no way to "skip the line" with the IRS. Everyone knows their phone system is intentionally understaffed and impossible to navigate. I'll believe it when I see it.

I was confused at first too! What they actually do is use an automated system to wait on hold with the IRS for you. Once they reach a human, they call you and connect you directly to the IRS agent. It's basically like having someone else sit on hold instead of you. I was super skeptical too before trying it. But it legitimately works - I was preparing myself for disappointment but then got a call connecting me to an actual IRS person. I think they just have a bunch of systems dialing and waiting on hold simultaneously, which is why they can get through when individuals can't.

This is really helpful! I do still have the certified mail receipt showing I sent it within the 30-day window. Does that typically satisfy auditors if they ever question the 83(b) election? And do you happen to know if there's a specific place I should write "83(b) election on file" on my 1040? Like on the top margin of the first page or somewhere specific?

Yes, in my experience, the certified mail receipt is very strong evidence for auditors. The IRS rules are clear that the election is based on when you mail it, not when they process it. If you can show you mailed it within 30 days of receiving the equity, you're in good shape. For writing "83(b) election on file" on your 1040, put it at the top margin of the first page. If filing electronically, you can include it in the notes/comments section that most tax software provides, but also print a copy of your return and write it at the top of that copy for your records.

No, you only file the 83(b) election once, within 30 days of receiving the equity grant. It's not an annual thing. But if you just got options last month and haven't filed an 83(b) election yet, you might still be within that 30-day window! I'd strongly recommend consulting with a tax professional immediately. The 83(b) election can save you significant money on taxes in the future if your company's value increases, but the 30-day deadline is absolutely strict with no exceptions.

@NebulaKnight is absolutely right - this is urgent! The 83(b) election has to be filed within 30 days of when you received the equity grant, and there are literally zero exceptions to this deadline. If you got your options last month, you might already be past the window. The 83(b) election lets you pay taxes on the current (presumably low) value of your equity now, rather than on the potentially much higher value when it vests. Without it, you could face a massive tax bill later if your startup does well. Drop everything and get to a tax professional TODAY. Even if you're past the 30-day window, they can at least help you understand your tax obligations going forward. Don't let this slide!