Article 164-5 (Submission of Transaction Statement for Overseas Stock Options, etc.)

A domestic corporation or a foreign corporation with a place of business in Korea under Article 94 of the Corporate Tax Act shall submit the documents specified in item 3 to the head of the tax office having jurisdiction over its place of taxation by March 10 of the year following the taxation period in which the reasons specified in item 2 occur to the persons specified in item 1. (In the case of temporary closure, closure, or dissolution, by the last day of the second month following the month in which the date of temporary closure, closure, or dissolution falls). <Amended on December 31, 2024, October 1, 2025> 1. Executives, etc. (including those who were executives, etc. hereinafter referred to as 'executives, etc.' in this Article) employed by the domestic corporation or the place of business in Korea of the foreign corporation, who fall under any of the following subparagraphs: a. Residents b. Non-residents [Limited to persons whose income arising from stock options under item 2 (a) or stock-based compensation under item 2 (b) (hereinafter referred to as 'stock options, etc.' in this Article) is entirely or partially domestic source income under Article 119] 2. When executives, etc. fall under any of the following: a. When exercising stock options (including rights similar thereto that allow for the acquisition or purchase of shares at a predetermined price) granted by a foreign corporation that is a controlling shareholder abroad as prescribed by the Presidential Decree. b. When receiving stock-based compensation (meaning bonuses paid in shares or money equivalent to the value of shares, as prescribed by the Presidential Decree) from the foreign corporation in subparagraph a. 3. Transaction statement for stock options, etc., as prescribed by the Ministry of Economy and Finance, which states the personal information of executives, etc. and the details of the grant, exercise, or payment of stock options, etc.

A person who has been requested to submit or supplement the transaction statement for stock options, etc. under paragraph 2 shall submit the relevant documents within 60 days from the date of receiving the request.