You’ve moved on to a new role, didn’t work for your old company at all last year…and a W‑2 from that former employer still shows up, even years later.

In most cases, that’s not a mistake. It’s your equity compensation showing up on the tax radar.

• You can still get a W‑2 from an employer you left if you had ESPPs, RSUs, or stock options that vested, were sold, or were exercised.
  
• Those equity events can show up as wage income on a W‑2, even if you didn’t work there at all last year (or in a few years).
  
• If you changed jobs, it’s worth checking old HR/equity portals for both transactions and any W‑2s before you file.

Why check for W‑2s from old employers? 

The usual suspects (ESPP, RSUs, and options) may trigger a W-2 from a prior company.

Even after you leave, certain equity events can create wage income, which has to be reported on a W‑2.

Common examples:

• Employee Stock Purchase Plan (ESPP) sales
  You may have held off on selling ESPP shares when you left to manage taxes. When you eventually sell them, part of the gain (often the discount) can be treated as ordinary income and reported on a W‑2.
  
• Restricted Stock Units (RSU) vesting
  RSUs are usually taxed when they vest. If some vest after you leave (for example, as part of a severance or post‑termination vesting schedule), the value at vesting is wage income on a W‑2.
  
• Nonqualified stock options (NQSOs)
  When you exercise NQSOs, the “spread” between strike price and market price is ordinary income and typically shows up on a W‑2, even if you exercise after you’ve left.
  
• Corrections/true‑ups
  Employers sometimes discover they need to adjust prior equity reporting or withholding and issue a new or corrected W‑2 in a later year.
  

Why check if you didn’t receive a W-2? 

You might not see a paper W‑2.

One more wrinkle: if you previously opted into electronic delivery, your W‑2 may only live in an old HR or stock portal.

Employers are allowed to furnish W‑2s electronically if they follow IRS e‑delivery rules, so you might never get a paper copy in the mail.

What to do:  a quick check before you file

If you changed jobs and had any kind of stock compensation, you don’t need a long checklist—just a couple of key questions:

• Did you still hold equity compensation (ESPP, RSUs, or stock options) from a prior employer last year?
  These are the most common types of stock‑based pay that end up reported as wage income on a W‑2.
  
• Did anything happen with that equity—did shares vest, or did you sell or exercise anything?
  If RSUs vested, ESPP shares were sold, or options were exercised, there’s a good chance some of that shows up as income on a W‑2 from the company that granted it.
  

You can usually answer both questions by logging into your old equity compensation account and looking for transactions during the tax year (vests, sales, or exercises).

If the answer to both questions is “yes,” it’s worth double‑checking whether that prior employer issued a W‑2 you need to include with your return.

Where this fits in your bigger picture

For many professionals, equity is a meaningful part of total compensation, and it can create surprises if it’s handled in isolation at tax time.

A little awareness around when ESPPs, RSUs, and options show up on a W‑2 can help you ask better questions of your tax professional and make more informed decisions about when to sell, hold, or exercise.

Equity compensation should be part of a broader conversation about cash flow, savings, and long‑term goals.