Stock options software developer OptionEase has begun selling a Web-based system that provides administration, valuation and compliance functions for employee stock purchase programs.
OptionEase ESPP is designed to handle online participant enrollment, withholding changes, and automatic resets, as well as the accounting required for variable share plans and modifications, to comply with Financial Accounting Standard 123 and Section 6039 of the Tax Code.
Section 6039, which takes effect next month, requires plan administrators to report all transfers to the IRS via a paper Form 3922 or electronic media, as well as providing a means for participants to opt in to receive their statements electronically.
OptionEase ESPP captures the relevant compliance data and provides an audit of acceptance and notifications.
“Accounting for stock purchase plans can be complex,” said OptionEase chief executive Kim Kovacs. “However, our proprietary platform enables ESPP administrators to reduce compliance risk by remaining in a single system, from enrollment through reporting.”
The module is available to OptionEase subscribers and is designed to integrate with other applications such as brokerage and payroll software.
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