ESOPs can pay fair market value for the stock: Stock purchased by an ESOP must be appraised by an independent third party expert working with a trustee for the ESOP who must also be independent from the seller. The ESOP is...more
8/15/2023
/ 401k ,
Allocation of Funds ,
C-Corporation ,
Change of Ownership ,
Employee Benefits ,
Employee Stock Purchase Plans ,
Employer Contributions ,
ESOP ,
Fiduciary Duty ,
Financial Adviser ,
Loans ,
Retirement Plan ,
Stocks ,
Third-Party ,
Trustees ,
Vesting
We are getting a lot of questions regarding the amount of retirement contributions paid during the qualifying period for the forgiveness calculation, such as:
•Will a contribution for the 2019 plan year count toward...more
It’s been a hectic three weeks of pretty much non-stop developments and activity, so I thought it might help to lay out a checklist of ESOP-related issues we’ve been discussing with many of you during the COVID-19 crisis. If...more