{"id":2431,"date":"2021-06-09T05:58:44","date_gmt":"2021-06-09T05:58:44","guid":{"rendered":"https:\/\/aspenval.com\/?p=1183"},"modified":"2025-09-27T17:37:34","modified_gmt":"2025-09-27T17:37:34","slug":"409a-business-valuation","status":"publish","type":"post","link":"https:\/\/aspenval.com\/us\/409a-business-valuation\/","title":{"rendered":"You may be required to have a 409A valuation &#8211; here&#8217;s why"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2431\" class=\"elementor elementor-2431\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1431c1d e-flex e-con-boxed e-con e-parent\" data-id=\"1431c1d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-58f93c5 elementor-widget elementor-widget-image\" data-id=\"58f93c5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"427\" src=\"https:\/\/aspenval.com\/us\/wp-content\/uploads\/2020\/07\/handshake.webp\" class=\"attachment-large size-large wp-image-5339\" alt=\"\" srcset=\"https:\/\/aspenval.com\/us\/wp-content\/uploads\/2020\/07\/handshake.webp 640w, https:\/\/aspenval.com\/us\/wp-content\/uploads\/2020\/07\/handshake-300x200.webp 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7500b07 elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-heading\" data-id=\"7500b07\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\"><b>You may be required to have a 409A valuation \u2013 here\u2019s why <\/b><\/h1>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2ae2d2cd e-flex e-con-boxed e-con e-parent\" data-id=\"2ae2d2cd\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7d9afef elementor-widget elementor-widget-text-editor\" data-id=\"7d9afef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t\n<p><em>1 min read.<\/em><\/p>\n\n<p>Any private company (including non-U.S. companies) that issues equity-based compensation to U.S. employees (and advisors) would need to comply with Section 409A of the U.S. Internal Revenue Code, which essentially requires, among other things, that stock options and other equity incentives issues are not priced below fair market value when issued.<br \/><br \/>How often do companies need to update their 409A valuation? A new 409A valuation must be performed whenever there is a material corporate event, including:<br \/><br \/>&#8211; Issuing employee stock options or shares for the first time<br \/>&#8211; Raising a round of funding<br \/>&#8211; Turnover of significant employees in leadership positions<br \/>&#8211; Any significant change to business operations or plans<br \/>&#8211; Generating first revenue or achieving profit<br \/>&#8211; A previous 409A valuation is over one year old<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c80148 elementor-widget elementor-widget-image\" data-id=\"9c80148\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" width=\"960\" height=\"600\" src=\"https:\/\/aspenval.com\/us\/wp-content\/uploads\/2025\/08\/insights-sell-side-quality-of-earnings.jpg\" class=\"attachment-large size-large wp-image-7348\" alt=\"\" srcset=\"https:\/\/aspenval.com\/us\/wp-content\/uploads\/2025\/08\/insights-sell-side-quality-of-earnings.jpg 960w, https:\/\/aspenval.com\/us\/wp-content\/uploads\/2025\/08\/insights-sell-side-quality-of-earnings-300x188.jpg 300w, https:\/\/aspenval.com\/us\/wp-content\/uploads\/2025\/08\/insights-sell-side-quality-of-earnings-768x480.jpg 768w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55821d5 elementor-widget elementor-widget-text-editor\" data-id=\"55821d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Non-compliance with 409A can expose both companies and their U.S. employees (and advisors) to significant tax penalties including a 20 percent federal income tax penalty and varying state tax penalties.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p>Book a<a href=\"https:\/\/aspenval.com\/contact-us\/\">\u00a0<\/a><a href=\"https:\/\/calendly.com\/yen-dang\/aspen-valuations-discovery-call?month=2022-09\" target=\"_blank\" rel=\"noreferrer noopener\">free consultation<\/a>\u00a0with us to chat more.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>You may be required to have a 409A valuation \u2013 here\u2019s why 1 min read. Any private company (including non-U.S. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9,12],"tags":[21,22,23,24,25,26,27],"class_list":["post-2431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-business-valuation-insights","tag-409a-valuation","tag-aspen-valuations","tag-compliance","tag-equity-based-compensation","tag-fair-market-value","tag-tax-penalties","tag-us-internal-revenue-code"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>You may be required to have a 409A valuation - here&#039;s why - Aspen Valuations<\/title>\n<meta name=\"description\" content=\"Discover the significance of Section 409A compliance for US employee equity in private firms. 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