Brooklyn, NY asked in Business Formation, Business Law and Employment Law for New York

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?

2 Lawyer Answers
Michael David Siegel
Michael David Siegel
Answered
  • New York, NY
  • Licensed in New York

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.

V. Jonas Urba
V. Jonas Urba
Answered
  • New York, NY
  • Licensed in New York

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.

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