The NASPP Blog

Earlier this week, Barb blogged about the government shutdown as the deadline passed and it became apparent that yes, the government would indeed be closing its doors – at least temporarily. As I watched this all unfold (from the suburbs of DC), I couldn’t help but breathe a huge sigh of relief that our wildly successful 21st Annual Conference concluded last week – allowing us full opportunity to enjoy all that our nation’s capital has to offer. This week is a different story – all those museums: closed. All the monuments: closed. The national parks: closed. Even the tour bus service that some of us used to shuttle to a vendor event last week: closed. With so many of you thrilled to be in DC and talking about how you hadn’t been there in years, I’m thankful that our timing was indeed perfect.

Fast forward to this week, and we’re now in the middle of that government shutdown. In today’s blog I’ll share a few updates on where things stand:

• Most of the regulators that we interact with as stock plan administrators are using their websites to communicate with their employees and the public. If you’re wondering about the status of an agency, try their web site. The SEC and IRS both have notices on their home pages.
• The SEC’s EDGAR filing system is still operational and the SEC confirms it will remain so during the shutdown. Translation: no reprieve for company filings.
• The law is still the law during a government shutdown. One approaching deadline is the October 15th tax filing deadline for taxpayers who filed extensions earlier this year. Filings are still due when they are due, regardless of the government status. You may have inquiries from employees about whether they still need to file their tax returns by October 15th. Now’s not the time to start giving tax advice, but you can certainly remind employees that all laws remain intact, including IRS filing deadlines and requirements.
• This has nothing to do with stock administration, but I wanted to repeat a small piece of trivia I’ve heard several times over the past couple of days. Courtesy of USA Today, “What is one of the most bizarre government program canceled by the government shutdown? The Gateway National Recreation Area in Sandy Hook, N.J., has furloughed its poison ivy-eating goats.” Who knew!

For most of us, it’s business as usual. Let’s hope this comes to a swift close! Regardless, if anything significant changes that concerns equity plans, we’ll be sure to get the word out.

-Jennifer