Who this affects
- Fund administration clients
- Android (Previously available on iOS)
Employees and Investors
iOS & Android
Users with holdings in private and public companies can now view their holdings details directly from the Portfolio screen for easy access.
Shareholders with holdings in private and public companies.
With an objective to provide insightful experiences, we’ve redesigned the Portfolio Overview screen to surface important holding details for each company. This redesign introduces usability enhancements by eliminating extra clicks and effort required to find the information needed to view and understand equity.
We know things like the quantity of option grants, vesting schedule, and values of securities are some of the most important metrics to have top of my mind when reviewing your portfolio. In the Portfolio Overview, each private company card will now present the following information with the ability to view further details when clicked:
If Company tax data is not complete:
If Stakeholder tax details are not complete, update missing data under the Stakeholder details tab of the same Form 3922 page
5. If the missing data was entered in, return to the Compliance > Section 6039 page and click Generate to click through the steps to proceed and add company contact information. The company contact is formatted into the electronic Copy A .txt file that will be uploaded to the IRS site.
Click Generate Form 3922 to begin the generation of the files.
6. Refresh the page after some time if you see a spinning wheel or navigate away and return later.
7. Once generated, click Download reports for the tax year to download a .zip file to your local drive that contains all necessary data for Copy A (efile), and Copy B (statements).
The .zip file will be split out into the following three files:
For any filing questions, contact your tax advisor.
Public and Private Market companies with an ESPP.
This feature can be enabled on demand by reaching out to our support team or Customer Success Managers.
The product team will be enhancing Form 3921 functionality to bring it more in line with the new Section 6039 admin experience.
Option exercising with Public companies is now easier than ever.
The exercising experience for public companies has been improved. The exercise request is now a coherent workflow guiding users through each step and providing key information about the exercise. With this detail, users can be more confident with their selection at each step of the exercise request. If there are issues with the exercise, clearer banners explain how Carta calculates share amounts and market prices.
Who this affects: 🇺🇸 Public US companies
New experience for exercise requests:
Action required: No action required
Timing: Released to 100% of all public companies on Jan 24, 2022
Companies using our newest version of the financial reporting tool can now report following International Financial Reporting Standards (IFRS).
This is the first release of our IFRS reporting that includes:
1. Tranche based valuations
2. FIN28 amortization
3. Correct relationship valuation methodology (differs from US GAAP)
4. Stakeholder country field added to reports
6. Stock-based compensation expense journal entry
7. Report error validations specific to IFRS reporting
Later releases will include:
1. In-app custom assumption overrides
2. Forfeiture rate by grouping
When going to create a new expense scenario, there is now an additional step where users can select which reporting standard they want that scenario to follow. Users have the ability to create multiple scenarios to support both IFRS and US GAAP.
Once the scenario is created users can create both SBC expense reports and disclosure reports that follow the standard and give supporting calculations.
Private and public companies using our new financial reporting tool.
Available for legacy V1 IFRS users and beta customers. If you have a customer that is interested in being a beta user, reach out to Jess Carthey via slack.
GA will begin with the second release which includes in-app custom assumptions.
We are releasing a report to all Private Market companies for administrators to review their certificate cost basis and original acquisition dates. This report will allow administrators to view cost basis data prior to the delivery of 1099B tax statements to stakeholders by mid-February.
How it works
This in-app report is available by navigating from Capitalization -> Reporting -> Form 1099b cost basis report.
Administrators will be able to view columns like stakeholder details, certificate ID's, quantity of shares sold, date acquired (original acquisition date), proceeds, gain/loss, and including various cost basis fields:
From this report, Issuers can identify which certificates need to be changed and/or excluded from tax filing, and will have the opportunity to correct the data until late-January.
Who does this impact?
This report will be available to individuals with role permissions of Company Admin, and including Company Editors.
In the next month, Carta's Liquidity team will be reaching out to ensure that data has been reviewed and is considered approved by Issuers for generating 1099B statements. Stakeholders will be able to access tax statements in their portfolios by mid-February.