409A valuation

A safe-harbor 409A valuation in 10 business days.

Capable orders an independent 409A appraisal using your live cap table, so there is nothing to export. You review the fair market value, and it is recorded as the exercise price floor for new grants the moment you approve it.

$1,499 · 10 business days · paid upfront, full refund before work starts

Order now, $1,499 How it works

409A valuation: one fixed price, ordered in two minutes

409A valuation

$1,499

Delivered in 10 business days

$1,999 with 5 business days rush

Full refund before work starts

Independent appraiser, safe-harbor report
Uses your live cap table, no spreadsheet exports
You review the fair market value before it is recorded

Order now, $1,499

Pay by card or US bank account. Invoice included.

You need this now if

You are about to grant options

An option priced below fair market value on the grant date can make the holder owe tax as it vests plus a 20% additional federal tax. Grant at or above a current 409A.

Your last 409A is 12 months old

The safe-harbor presumption covers an independent appraisal dated no more than 12 months before the grant.

You just raised money

A priced round is a material event. Grants after it should use a valuation that reflects the new preferred price and cash.

Something big changed

A large revenue jump, an acquisition offer, or a secondary sale at a price can make the old valuation stale before 12 months.

How it works

1
Order and pay in Capable
Tell us why you need it and any recent financing. Pay by card or US bank account; the invoice is emailed with the receipt.
2
The appraiser gets your data
Your cap table, share classes and round terms go to our independent appraisal partner straight from Capable. You upload financials and projections to the request.
3
Review the draft
You see the draft conclusion and can ask questions in the request before it is final.
4
Approve and it is recorded
The final report lands in your documents and the fair market value is recorded as the exercise price floor for new grants.

What you get

Independent appraisal report

A written report from a qualified independent appraiser, the method the safe harbor relies on.

FMV on your cap table

Recorded with its effective and expiry dates, with reminders 30 and 7 days before it expires.

Grant-ready

Offers and option repricing use the new fair market value as the exercise price floor.

Capable's 409A costs $1,499, uses your live cap table, and records the fair market value the moment you approve the report.

What the 409A safe harbor actually requires

Section 409A of the Internal Revenue Code taxes deferred compensation that does not follow its rules. A stock option with an exercise price below the stock's fair market value on the grant date is deferred compensation, so the holder can owe income tax as it vests, a 20% additional federal tax and interest.

Treasury regulations give private companies a presumption that a valuation is reasonable when it is performed by a qualified independent appraiser as of a date no more than 12 months before the grant. The IRS then has to show the value was grossly unreasonable, rather than the company proving it was right.

The presumption does not survive information the valuation ignored. A financing, a major contract or an acquisition offer after the valuation date is a reason to refresh early.

Sources

$1,499 sits in the middle of what startups pay

Published pricing for seed and Series A companies, September 2026.

	Typical price	Typical turnaround
Capable	$1,499, or $1,999 with 5-day rush	10 business days
Cap table platforms	About $500 to $2,500 at seed	1 to 3 weeks
Boutique valuation firms	About $2,500 to $6,000	2 to 4 weeks

409A valuation questions, answered

How much does a 409A valuation cost?+

Capable charges $1,499 for a standard 409A delivered in 10 business days, or $1,999 for a 5-business-day rush. Startups typically pay about $500 to $2,500 through cap table platforms and $2,500 to $6,000 through boutique valuation firms.

How long does a 409A valuation take?+

10 business days from payment on the standard option and 5 business days with rush, provided you share financials and projections when asked.

How often do I need a 409A?+

At least every 12 months to keep the safe-harbor presumption, and sooner after a material event such as a priced financing, a significant change in revenue, or an acquisition offer.

Do I need a new 409A after raising a SAFE?+

Often, yes. Many appraisers treat a SAFE raise as new information about value, especially at a meaningful cap. Ask for a refresh before granting options after the raise.

What happens if we grant options without a current 409A?+

If the exercise price turns out to be below fair market value, the option can fall under Section 409A: the holder may owe income tax as it vests plus a 20% additional federal tax and interest. Fixing it later usually means repricing.

Can I cancel after ordering?+

Yes. Cancel from the request before the appraiser starts and you are refunded in full to the original payment method.

Other expert services

Order your 409a valuation in two minutes.

Fixed price, paid upfront, delivered in 10 business days. Cancel before work starts for a full refund.

Order now, $1,499 All services