Q: I am the director of a UK Limited company. Under a previous work contract for that company before I moved to the US,
the company was granted equity shares in a startup business, to be vested over a 4 year period. I understand that the UK does not require these to be declared until they are sold, but does my personal residency in the US require any declaration of this equity holding in the US? Or since the equity is held by the Ltd company, I have no personal liability at this point until they are sold?
A: This is a tax question, not a legal one. If you file American tax returns, and there is income, it is supposed to be disclosed on the form. If the stock has no income, there is no declaration. I believe immigration paperwork, if you are looking for citizenship, also requires disclosure.
A: This is a highly specialized Executive Compensation, Pensions & Benefits Law Question. Sandra W. Cohen Esq., 200 Park Avenue 17th Floor NY, NY 10166 can be reached at 866-905-2252. She advises international corporations and executives. It's all she does.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
