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Form 1125-E Salt Lake City Utah: What You Should Know

The Form 1125-E instructions state, “Form 1125-E can be used to report compensation of officers for tax years beginning after 2017, and if the corporation has total receipts of 500,000 or more.” Why is this form required, when Form 8853 is used to report the compensation of those officers who are not on corporate time? I'm not sure. What counts as “paid on behalf of”? What has to be reported? The compensation must be paid for services rendered, the officer must provide a completed Form 1125-E, “Compensation of Officers,” and a statement attesting to his or her status as an officer. The following are examples of the types of statements required for Form 1125-E: the individual's name, address and date of birth; the individual's Social Security Number or other taxpayer identification number, if needed; the individual's position on the corporation's board of directors or other committees and the dates of any such positions; whether the individual is compensated by salary, contract, commission, bonus, or otherwise and the amount of such compensation; whether the individual is a director or officer of the corporation and the date on which he or she became a director or officer; whether the individual is a former director or officer of the corporation and the date on which he or she retired; and whether the officer has made any payments, or made any gifts, either in connection with the officer's employment, or after the officer's employment, to a person or entity with which the officer was not personally associated. Additionally, the following statements must be included if the officer was paid under an option: the individual's name and date of vesting in the option; whether the employee had rights or options with respect to the value of the employee's compensation; the individual's name, address and Social Security number and whether an employee identification number has been assigned; and the individual's name, address, and Social Security number. Who must report compensation on the form? Payments to individuals that are not on payroll for the corporation must be reported on Form 1125-E, “Compensation of Officers.

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