How do I Create the Substitute Participant Form 3921 Using Corporate Focus?

Section 6039 of the IRS code requires that Employers report any Exercise of an Incentive Stock Option using Form 3921 to both the individual participant and to the IRS. Both of these requirements can be fulfilled using Corporate Focus by using the Form 3921 – Substitute Participant Form and Form 3921 – Electronic Filing reports.

Outlined below are the steps to generate the Substitute Participant Form that can be distributed to employees.

  1. Log into Corporate Focus and navigate to the Reports tab.
  2. Filter for Ownership reports and select the report Form 3921 – Substitute Participant Form and then click the View button.
  3. Set an Advanced Filter for Exercise/Cancellation > Date of Exercise. For 2012 filings, enter a date range of 1/1/2012 to 12/31/2012. NOTE:If you skip this step, you will receive exercises from pre-2012, so it is important that you set this filter.
  4. In the Parameters section, set the Tax Year. For 2012 returns, set the date to 1/1/2012.
  5. Once the advanced filter and parameters are set, click the Preview button. This will display the substitute form.
  6. Click on the Export button and download the form to PDF.

Additional Information

For more information on Form 3921 requirements, see the Corporate Focus Insight blog post on Section 6039 filing requirements.

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