409A valuation safe harbor: Valuation Rules and Standards
The Valuation Rules and Standards carries 9 published figures read from 3 sources' own pages, from 30 to 90 day, read 7 November 2026.
MultiplesBook sells its own paid plan in this category (our pricing). It is not counted here: every figure in this index is another provider's own published price, read from its own page.
- 430 to 40
- 140 to 50
- 50 to 60
- 260 to 70
- 70 to 80
- 280 to 90
Bands
| Bucket | Value |
|---|---|
| 30 to 40 | 4 figures |
| 40 to 50 | 1 figure |
| 50 to 60 | 0 figures |
| 60 to 70 | 2 figures |
| 70 to 80 | 0 figures |
| 80 to 90 | 2 figures |
4 of the 14 named sources read in full publish a figure; 10 publish none, read 7 November 2026.
By rule
| Breakdown | Median | Range | Sources |
|---|---|---|---|
| rulefair market value averaging period | 30day | 30 to 30day | 1 |
| ruleperformance criteria preestablished within 90 days | 90day | 90 to 90day | 1 |
| ruleseparation from service presumed at 20 percent of prior services | 20% | 20 to 20% | 1 |
| ruleseparation from service presumed not below 50 percent | 50% | 50 to 50% | 1 |
| ruleart appraisal assignment deadline | 45day | 45 to 45day | 1 |
| ruleart appraisal referral deadline | 60day | 60 to 60day | 1 |
| ruleengineering referral minimum fair market value | 500,000USD | 500,000 to 500,000USD | 1 |
| ruleengagement letter deadline | 30day | 30 to 30day | 1 |
| ruleobjection deadline after amended assessment | 60day | 60 to 60day | 1 |
| rulefair market value average selling price window 30 days before or after valuation date | 30day | 30 to 30day | 1 |
| ruleforeign-law averaging period not to exceed 30 days | 30day | 30 to 30day | 1 |
| rulevaluation not reasonable if calculated more than 12 months earlier | 12month | 12 to 12month | 1 |
| ruleilliquid start-up safe harbour: no business conducted for 10 years or more | 10year | 10 to 10year | 1 |
| ruleilliquid start-up safe harbour: no change in control expected within 90 days | 90day | 90 to 90day | 1 |
| rulequalified appraiser significant experience at least five years | 5year | 5 to 5year | 1 |
| ruleopening balance sheet required if business operating five years or less | 5year | 5 to 5year | 1 |
Every figure, with its source
One row per published figure: the figure as the source's own page publishes it, the page, and the day it was read. A figure that is not on a page we read is not on this one.
| Source | Figure | Breakdown | Read |
|---|---|---|---|
| IRS IRM 4.25.12 valuation assistance | 500,000USD | engineering referral minimum fair market value | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 90day | performance criteria preestablished within 90 days | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 90day | illiquid start-up safe harbour: no change in control expected within 90 days | 2026-11-07 |
| IRS IRM 4.25.12 valuation assistance | 60day | art appraisal referral deadline | 2026-11-07 |
| ATO market valuation for tax purposes guide | 60day | objection deadline after amended assessment | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 50% | separation from service presumed not below 50 percent | 2026-11-07 |
| IRS IRM 4.25.12 valuation assistance | 45day | art appraisal assignment deadline | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 30day | fair market value averaging period | 2026-11-07 |
| IRS IRM 4.25.12 valuation assistance | 30day | engagement letter deadline | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 30day | fair market value average selling price window 30 days before or after valuation date | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 30day | foreign-law averaging period not to exceed 30 days | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 20% | separation from service presumed at 20 percent of prior services | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 12month | valuation not reasonable if calculated more than 12 months earlier | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 10year | illiquid start-up safe harbour: no business conducted for 10 years or more | 2026-11-07 |
| eCFR 26 CFR 1.409A-1 definitions and covered plans | 5year | qualified appraiser significant experience at least five years | 2026-11-07 |
| CRA IC89-3 policy statement on business equity valuations | 5year | opening balance sheet required if business operating five years or less | 2026-11-07 |
The sentence each figure was read from (16)
- IRS IRM 4.25.12 valuation assistance, read 2026-11-07:
While IRM 4.48 recommends referrals of real property assets with a minimum fair market value of $500,000, there are no minimum or maximum dollar thresholds requirements for making an engineering referral.
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
Organizational or individual performance criteria are considered preestablished if established in writing by not later than 90 days after the commencement of the period of service to which the criteria relates, provided that the outcome is substantially uncertain at the time the criteria are established.
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
valuation is applied, that the service recipient will undergo a change in control event as described in § 1.409A-3(i)(5)(v) or § 1.409A-3(i)(5)(vii) within the 90 days following the action to which the valuation is applied, or make a public offering of securities within the 180 days following the action to which the valuation
- IRS IRM 4.25.12 valuation assistance, read 2026-11-07:
Examiners will make a referral to AAS within 60 days of receipt of the case from the group manager, if the case will be examined and includes a piece of art with a returned value of $50,000 or more and all required information for the referral is contained in the file.
- ATO market valuation for tax purposes guide, read 2026-11-07:
You can lodge an objection in writing within 60 days of the amendment, or 2 to 4 years
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
An employee will be presumed not to have separated from service where the level of bona fide services performed continues at a level that is 50 percent or more of the average level of service performed by the employee during the immediately preceding 36-month period.
- IRS IRM 4.25.12 valuation assistance, read 2026-11-07:
In cases with art work or an art appraisal identified on the classification sheet, group managers will assign (or survey before assignment) cases within 45 days of receipt.
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
(2) Using the arithmetic mean of such market prices on trading days during a specified period designated before the beginning of such specified period, where such specified period is not longer than 30 days and ends no later than 60 days after the transaction; or
- IRS IRM 4.25.12 valuation assistance, read 2026-11-07:
The Engagement Letter will be issued by the engineer no later than 30 days from the assignment of the referral to the engineer and it will include the date that the referral was made.
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
The determination of fair market value also may be determined using an average selling price during a specified period that is within 30 days before or 30 days after the applicable valuation date, provided that the program under which the stock right is granted, including a program with a single part
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
ith such applicable foreign law will be treated as meeting the requirements of this paragraph (b)(5)(iv)(A), provided that the averaging period does not exceed 30 days.
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
An employee is presumed to have separated from service where the level of bona fide services performed decreases to a level equal to 20 percent or less of the average level of services performed by the employee during the immediately preceding 36-month period.
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
rporation (for example, the resolution of material litigation or the issuance of a patent) or the value was calculated with respect to a date that is more than 12 months earlier than the date for which the valuation is being used.
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
orporation means service recipient stock of a corporation that has no material trade or business that it or any predecessor to it has conducted for a period of 10 years or more and has no class of equity securities that are traded on an established securities market (as defined in paragraph (k) of this section), where such sto
- eCFR 26 CFR 1.409A-1 definitions and covered plans, read 2026-11-07:
For this purpose, significant experience generally means at least five years of relevant experience in business valuation or appraisal, financial accounting, investment banking, private equity, secured lending, or other comparable experience in the line of business or industry in which the service recipient operates.
- CRA IC89-3 policy statement on business equity valuations, read 2026-11-07:
(e) If the business has been operating for five years or less, the financial statements should include an opening balance sheet.
Read in full, publishes no figure
10 named sources were read in full on the dates shown and print no usable figure. They are counted, never filled in.
- Cornell LII 26 CFR 1.409A-1, read 2026-10-03: every candidate on the page was refused
- IRS valuation of assets, read 2026-09-12: read in full and no accepted figure on the page
- IRS S Corporation valuation job aid, read 2026-09-12: every candidate on the page was refused
- HMRC Shares and Assets Valuation Manual, read 2026-09-12: read in full and no accepted figure on the page
- HMRC SVM111050 meaning of unquoted and control, read 2026-09-12: read in full and no accepted figure on the page
- ATO market valuation of assets, read 2026-10-17: read in full and no accepted figure on the page
- CRA fair market value, read 2026-09-19: read in full and no accepted figure on the page
- The Appraisal Foundation USPAP, read 2026-09-12: read in full and no accepted figure on the page
- IVSC new edition of the International Valuation Standards, read 2026-10-31: every candidate on the page was refused
- RICS Red Book Global Standards, read 2026-11-07: read in full and no accepted figure on the page
Methodology
Every row is a verbatim sentence read from the named source's own page through our fetch service on the date shown, hash-pinned to the stored read (the sha of the page's visible text; the raw page is mirrored to R2).
4 of the 14 named sources that could be read published a usable figure; 10 published none and are recorded as not published, never filled in; 0 could not be read (blocked, dead or unreachable) and count nowhere.
The headline figures (median, minimum, maximum, quartiles) are over ONE figure per source for each breakdown it prices, in day (a source's median where its page yielded several accepted sentences for one breakdown), so a page that gives figures for several breakdowns gives one for each and N counts 9 figures, never sentences; 69 candidate sentence(s) were refused by a reviewer with the reason recorded.
The fuller derivation this dataset is chartered to grow into (not yet what the figures above are; they are each source's own published figure as read): one row per jurisdiction per rule, quoted verbatim from the authority with its effective date: the definition of fair market value, the safe-harbour conditions and the 12-month presumption, what counts as a qualified appraiser, the standard of value a tax authority applies, and the professional standard a report must be written to.
The derivation is the CROSS-JURISDICTION comparison - what the US, UK, Australian and Canadian authorities each demand of the same report, where they agree and where they do not - plus changed-since on every read, which is how a rule change becomes the news.
69 candidate sentences on these pages were refused by a reviewer; each refusal and its reason is recorded in the review ledger.
Sources (14)
- eCFR 26 CFR 1.409A-1 definitions and covered plans(the publisher's own terms; quoted for reporting and comment)
- Cornell LII 26 CFR 1.409A-1(the publisher's own terms; quoted for reporting and comment)
- IRS valuation of assets(the publisher's own terms; quoted for reporting and comment)
- IRS S Corporation valuation job aid(the publisher's own terms; quoted for reporting and comment)
- IRS IRM 4.25.12 valuation assistance(the publisher's own terms; quoted for reporting and comment)
- HMRC Shares and Assets Valuation Manual(the publisher's own terms; quoted for reporting and comment)
- HMRC SVM111050 meaning of unquoted and control(the publisher's own terms; quoted for reporting and comment)
- ATO market valuation of assets(the publisher's own terms; quoted for reporting and comment)
- ATO market valuation for tax purposes guide(the publisher's own terms; quoted for reporting and comment)
- CRA IC89-3 policy statement on business equity valuations(the publisher's own terms; quoted for reporting and comment)
- CRA fair market value(the publisher's own terms; quoted for reporting and comment)
- The Appraisal Foundation USPAP(the publisher's own terms; quoted for reporting and comment)
- IVSC new edition of the International Valuation Standards(the publisher's own terms; quoted for reporting and comment)
- RICS Red Book Global Standards(the publisher's own terms; quoted for reporting and comment)
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The Valuation Rules and Standards carries 9 published figures read from 3 sources' own pages, from 30 to 90 day, read 7 November 2026.
4 of the 14 named sources read in full publish a figure; 10 publish none, read 7 November 2026.
Valuation Rules and Standards, rule fair market value averaging period: median 30 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule performance criteria preestablished within 90 days: median 90 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule separation from service presumed at 20 percent of prior services: median 20 percent across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule separation from service presumed not below 50 percent: median 50 percent across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule art appraisal assignment deadline: median 45 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule art appraisal referral deadline: median 60 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule engineering referral minimum fair market value: median 500,000 USD across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule engagement letter deadline: median 30 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule objection deadline after amended assessment: median 60 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule fair market value average selling price window 30 days before or after valuation date: median 30 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule foreign-law averaging period not to exceed 30 days: median 30 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule valuation not reasonable if calculated more than 12 months earlier: median 12 month across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule illiquid start-up safe harbour: no business conducted for 10 years or more: median 10 year across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule illiquid start-up safe harbour: no change in control expected within 90 days: median 90 day across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule qualified appraiser significant experience at least five years: median 5 year across 1 source, read 7 November 2026.
Valuation Rules and Standards, rule opening balance sheet required if business operating five years or less: median 5 year across 1 source, read 7 November 2026.
Cite as: "MultiplesBook Valuation Rules and Standards", updated 2026-11-08, https://multiplesbook.com/datasets/valuation-rules-and-standards/.
Download the CSV (16 rows, computed 2026-11-08)
Questions this data answers
What do the tax authority and the valuation standards require: what is fair market value, when is a 409A presumed reasonable, and how often must a valuation be refreshed?
The Valuation Rules and Standards carries 9 published figures read from 3 sources' own pages, from 30 to 90 day, read 7 November 2026.
Where do the figures in the Valuation Rules and Standards come from?
Every figure is quoted from its source's own page and dated (last read 7 Nov 2026). 14 named sources were read and 4 publish a figure; the 10 that publish none are recorded as not published, never estimated.