How long does a 409A valuation take?

We deliver a draft report within 48 hours of document clearance. Final report within 48 hours of your feedback. Expedited engagements receive same-day start with priority queue.

How much does a 409A valuation cost?

Early-stage (pre-Series A): $2,000/year or $2,500 one-time. Growth-stage (Series A+): $3,000/year or $3,750 one-time. Expedited delivery is available for an additional $500.

Is the report IRS safe harbor compliant?

Yes. Every report satisfies all five IRS safe harbor requirements under Treasury Regulation §1.409A-1(b)(5)(iv)(B): independent appraisal, qualified individual, valuation date within 12 months, material factors considered, and signed written report.

Do I need to schedule a call first?

No. Select your plan, upload your documents, and we begin same-day. No discovery call required. If you want to talk first, you can book a 15-minute introductory call at any time.

What documents do I need to provide?

Required: certificate of incorporation, fully diluted cap table, most recent financing documents, balance sheet, and income statement. Optional but helpful: prior 409A valuation, revenue projections, and board meeting minutes.

Why not use Carta or an automated platform?

Automated platforms generate reports algorithmically with no qualified expert behind them. If your auditor has questions, there is no one to call. Express 409A reports are prepared by investment banking professionals who can explain and defend the methodology directly to your auditor.

Now serving Series Seed → Series B

IRS-compliant 409A valuations

Your 409A. 48 hours.
Guaranteed.

Q: What is included in the report?

Every engagement includes a signed IRC §409A / ASC 718 valuation report, board resolution draft, strike-price schedule, material event checklist, and lifetime audit support. Annual plan subscribers also receive one refresh within 12 months and persistent portal access.

Audit-ready valuations prepared by experienced financial professionals using live market data. IRS safe harbor compliant. Every report includes a board resolution draft and strike-price schedule so you can act immediately.

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From $2,000/year · No call required · Book a 15-min call →

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How it works

See full process →

Documents received

Verifying cap table, financials, and financing documents.

Signed 409A report

Board resolution draft

Strike-price schedule

Material event checklist

IRS safe harbor (all 5 requirements)
IRC §409A + ASC 718 dual-purpose
Lifetime audit support

Built for IRS safe harbor

Every report clears all five safe harbor requirements — and one more.

Safe harbor flips the burden of proof to the IRS — they must prove your valuation is “grossly unreasonable,” an extraordinarily high bar. Our process is engineered to clear it on every engagement.

Independent appraiser

No equity, no options, no board seats in any company we value. The exact independence Treasury Reg §1.409A-1(b)(5)(iv) scrutinizes hardest.

Qualified professionals

Bulge-bracket investment banking M&A backgrounds. Credentials well beyond the IRS's five-year experience floor.

Recognized methodology

Market, Income, and Asset approaches triangulated per the AICPA Valuation Guide. Weightings disclosed in the report — defensible to your auditor and the IRS.

Signed written report

Every assumption, comparable, and discount sourced and signed. The audit trail your CPA and counsel can defend on day one.

Timely delivery

Issued and tracked inside the 12-month safe harbor window. We flag financings, M&A, or strategic shifts that require a refresh before your next grant.

Dual-purpose

One engagement satisfies both IRC §409A (tax) and FASB ASC 718 (audit). No duplicate fees, no reconciliation work between two reports.

How we help

Whatever brought you here, we can help.

Whether it's your first 409A or your fifth. Upload, review, deliver.

First-time

First option grants ever

Lawyer or accelerator said you need a 409A before granting equity.

How we help: Board resolution draft, strike-price schedule, and event checklist included.

Key hire

Your candidate won’t wait

Offer includes equity. Strike price requires a current 409A.

How we help: 48-hour delivery. Expedited (+$500) for same-day start.

Post-funding

You just raised (SAFE, note, or priced round)

A funding event is likely a material event under IRC §409A. Your old valuation is stale.

How we help: We model SAFEs, convertible notes, and priced rounds. Delivered within 48 hours.

Renewal

Safe harbor is expiring

12-month window is absolute. After that, every grant lacks protection.

How we help: Annual subscribers: 30-day advance notice. Portal data already loaded.

Audit

Auditor needs ASC 718

Dual-purpose report required for tax and financial reporting.

How we help: Every report satisfies IRC §409A + FASB ASC 718. Direct auditor support.

Switching

Switching from another provider

Current provider too slow, no auditor support, delivers only a PDF.

How we help: Send prior report. We build your profile from it. AICPA-aligned methodology.

What you get

More than a report. An equity operations package.

Every competitor delivers a PDF. We deliver the report and everything to act on it.

409A / ASC 718 valuation report

Signed, 30–60 pages. All five safe harbor requirements. Live market data.

Board resolution draft

Consent language for your board to accept FMV and authorize grants.

Strike-price schedule

FMV per share, date range, exercise price, next refresh date.

Material event checklist

Customized. Which events trigger a revaluation for your company.

Lifetime audit support

Direct auditor response. No extra cost. Life of the report.

Annual plan subscribers also get

Continuous compliance, not just a report.

1 refresh
within 12 months
70%
less effort on refresh
30 days
advance notice

Your portal stays open year-round. When funding closes or your team grows, refresh in days — not weeks.

See annual plan →

Compare

How we compare.

Automated platforms move fast but skip the package. Traditional firms deliver depth but take weeks. We give you both.

	Automated platforms	Traditional firms	Express 409A
Turnaround	5–21 days	3–6 weeks	48 hours. Guaranteed.
Prepared by	Algorithm + template	Junior analyst	Experienced professionals.
Post-report	Report only	Report only	Report + board res + strike memo + checklist
Audit support	Varies	Slow response	Direct response. Included for life.
Pricing	$990–$2,590/year	$3,000–$15,000+	$2,000/year · $2,500 single (full package)
Valuation data	Standardized inputs	Standardized inputs	Live market data, refreshed each engagement
Benchmark intelligence	—	—	Comparable-company + transaction multiples
Call required?	Sometimes	Yes	Optional — book one any time.

Turnaround

Automated5–21 days

Traditional3–6 weeks

Express 409A48 hours. Guaranteed.

Prepared by

AutomatedAlgorithm + template

TraditionalJunior analyst

Express 409AExperienced professionals.

Post-report

AutomatedReport only

TraditionalReport only

Express 409AReport + board res + strike memo + checklist

Audit support

AutomatedVaries

TraditionalSlow response

Express 409ADirect response. Included for life.

Pricing

Automated$990–$2,590/year

Traditional$3,000–$15,000+

Express 409A$2,000/year · $2,500 single (full package)

Valuation data

AutomatedStandardized inputs

TraditionalStandardized inputs

Express 409ALive market data, refreshed each engagement

Benchmark intelligence

Automated—

Traditional—

Express 409AComparable-company + transaction multiples

Call required?

AutomatedSometimes

TraditionalYes

Express 409AOptional — book one any time.

Pricing

Transparent pricing. Full package included.

The price you see is the price you pay.

Early-stage · Pre-Series A

Recommended

Annual plan

Save ~20% vs. single

Valuation + refresh + portal

$2,000/year

Signed 409A/ASC 718 report
48-hour delivery
Board resolution draft
Strike-price schedule
Event checklist
Lifetime audit support

Plus

One refresh (12 months)
Persistent portal
Trigger monitoring

Start annual plan

Single engagement

One-time + full action package

$2,500one-time

Signed 409A/ASC 718 report
48-hour delivery
Board resolution draft
Strike-price schedule
Event checklist
Lifetime audit support

Limits

—No refresh
—Portal may expire
—No monitoring

Start single engagement

Early-stage ($2,000 / $2,500)

Pre-Series A. Single preferred class, or SAFEs only.

Growth-stage ($3,000 / $3,750)

Series A+. Multiple preferred classes.

+$500Expedited: priority queue, same-day start.

Who prepares your valuation

Seasoned financial professionals.

Investment banking and M&A background professionals. $4B+ in closed transaction volume modeled, valued, and signed across the careers behind every report.

$4B+

in closed transaction volume modeled and valued

AICPA

Valuation Guide aligned

Signed

by qualified independent appraiser

Live market data for comparable company analysis and transaction multiples. Every assumption documented. Every report signed by a qualified, independent appraiser.

FAQ

Frequently asked questions

No call is required to start. Select a plan, upload your documents through the secure portal, and we begin the same day. If you'd prefer to talk first — to walk through your cap table, ask about timing, or pressure-test pricing — you can book a free 15-minute introductory call at any time.

We deliver the draft report within 48 hours of document clearance, and the final signed report within 48 hours of your feedback. Total elapsed time is typically 4–5 business days, including your internal review. Expedited engagements (+$500 on either plan) move to the front of the queue and start the same day.

In most cases, yes. The IRS treats any meaningful financing as a “material event” that resets the safe harbor clock, and a SAFE raise typically qualifies — especially if it implies a higher post-money than your last 409A. Granting options off a stale 409A after a material event is one of the most common audit triggers we see. We strongly recommend a refresh before the next grant.

Yes — and it's straightforward. Send us your prior 409A report and we'll build your engagement profile from it, preserving methodology consistency where appropriate and explicitly disclosing any changes in approach. Our methodology stays aligned with the AICPA Valuation Guide, so the transition reads as continuity to your auditor and the IRS.

Expedited adds $500 to either plan and gives your engagement two things: same-day start (no waiting for the next available slot) and priority queue position throughout. Use it when a board meeting, financing close, or grant deadline is driving the timing. The deliverables are identical — same rigor, same documentation, same lifetime audit support.

Yes. Every report is structured to satisfy both IRC §409A (your tax-side option pricing) and FASB ASC 718 (your audit-side stock-based compensation expense) in a single deliverable. One engagement, one fee, one set of documentation — no separate report or reconciliation work for your auditor or controller.

Yes. Every engagement includes a pre-drafted board consent that your counsel can review, customize for your jurisdiction or charter specifics, and circulate for signature. This is the document that formally adopts the fair market value for option grants — without it, the safe harbor presumption can be challenged on procedure alone, even when the underlying valuation is sound.

Lifetime audit support is included with every engagement at no additional cost. Direct your auditor to valuations@express-409a.com and we'll respond to their inquiries directly — explaining methodology, sourcing assumptions, and walking through comparables. Because our reports are prepared by named professionals rather than an algorithm, there's always someone qualified on the other end of the line.

Both include the full deliverable package: signed report, board resolution draft, strike-price schedule, material event checklist, and lifetime audit support. The annual plan adds one full refresh within 12 months at no extra cost, persistent portal access for your team and auditor, and ongoing material-event prompts. It's roughly a 20% saving versus two single engagements in a year — and the right choice for any company actively raising or granting options.

Safe harbor is the IRS presumption that your valuation is reasonable. When a 409A meets all five requirements of Treasury Reg §1.409A-1(b)(5)(iv)(B) — independent qualified appraiser, recognized methodology, valuation date within 12 months, all material factors considered, signed written report — the IRS must affirmatively prove the valuation is “grossly unreasonable” to challenge it. That's an extraordinarily high bar, and it's the practical reason every option grant in the company should be priced off a safe-harbor 409A.

Early-stage ($2,000/year, $2,500 single) is for pre-Series A companies, typically with a single class of preferred stock and a relatively simple cap table. Growth-stage ($3,000/year, $3,750 single) is for Series A and beyond, or any company with multiple preferred classes, complex liquidation preferences, or material debt. If you're not sure where you sit, send us your cap table and we'll tell you in writing — no obligation.

Free document checklist

What you need to get started

We'll email you a PDF with everything organized and where to find each document.

Required

Certificate of incorporation (all amendments) — corporate attorney

Fully diluted cap table — equity management tool or counsel

Financing documents (term sheet, SPA, SAFE, or note) — deal folder

Balance sheet near valuation date — accountant or bookkeeping software

Income statement (YTD + prior year) — same source

Helpful

○Investor pitch deck

○Financial projections

○Prior 409A report

○Option plan summary

Get the PDF checklist

Your 409A. 48 hours. Start now.

Upload documents. Same-day review. No call required.

Start your 409A Or book a 15-min call →

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From $2,000/year · Expedited +$500 · Questions? team@express-409a.com

Your 409A. 48 hours. Guaranteed.