Transcription of Chapter 8 Examining Employee Stock Ownership Plans …
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Chapter 8 Examining ESOPS, INCLUDING NEW DEVELOPMENTS Page 8-1 Chapter 8 Examining Employee Stock Ownership Plans (ESOPS), including new developments By Steven James (Gulf Coast) And Jerry Livingston (Special Review), and Steve Linder, (R&A) Reviewers INTERNAL REVENUE SERVICE TAX EXEMPT AND GOVERNMENT ENTITIES Table of Contents TABLE OF CONTENTS ..1 OVERVIEW ..7 OBJECTIVES ..7 ESOP REQUIREMENTS-DEFINITION OF AN ESOP ..8 DEFINITION OF ESOP ..8 PROHIBITED TRANSACTION 4975(D)(13)..10 ERISA 408(E) AND 408(B)(12) ..10 OPERATIONAL ASPECTS AND ADVANTAGES OF INTRODUCTION-ESOP DISTINGUISHED WITH OTHER ESOP USED AS A FINANCING ESOPS USES EXEMPT LOANS AND SUSPENSE ESOPS CAN INVEST IN EMPLOYER SPECIAL TAX RULES FOR EXAMPLE OF AN EXEMPT EXAMINATION QUALIFYING EMPLOYER SECURITIES.
CHAPTER 8 EXAMINING ESOPS, INCLUDING NEW DEVELOPMENTS Page 8-7 Overview Introduction This lesson provides guidance pertaining to the examination of both leveraged and non-leveraged employee stock ownership plans. This chapter describes the qualification requirements under IRC sections 401(a) and 409, as well as
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