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ByteDance
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TikTok owner ByteDance asks employees to declare US tax status with IPO plans still up in the air

  • The company has requested non-US-based employees who own stock options in the firm to declare whether they are American citizens
  • While ByteDance has repeatedly denied it had plans for an IPO, the fundraising outlook for Chinese tech companies appears to be improving this year

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Beijing-based ByteDance’s plans for an IPO remains up in the air. Photo: Reuters
Coco Fengin Beijing
ByteDance, the Chinese owner of short-video app TikTok, has asked its employees to declare their tax residency status in the US in a routine compliance practice, as plans for the decade-old unicorn to go public remain in limbo.

The Beijing-based company on Monday requested former and current employees who own stock options in the firm to declare whether they have an American citizenship or a green card, and whether they have stayed in the US for over 31 days, to determine if they need to file taxes in the country, according to two people who received the message.

ByteDance did not immediately respond to a request for comment on Tuesday.

The notification, sent to non-US-based staff, came during the US tax filing season and ahead of ByteDance’s biannual stock options offering, which usually takes place in April and October.

A TikTok logo displayed outside the app’s office in Culver City, California. Photo: Getty Images/TNS
A TikTok logo displayed outside the app’s office in Culver City, California. Photo: Getty Images/TNS

Such reminders are “common” for global companies like ByteDance, said Luo Zhiyu, a partner at DeHeng Law Offices in Beijing and a specialist in cross-border initial public offerings, mergers and acquisitions.

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