If you’ve recently discovered your business may be part of a Controlled Group (CG) or an Affiliated Service Group (ASG)—or assumed you weren’t and got it wrong—your 401(k) plan could face significant compliance issues.
This misstep isn’t just a ...
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Resources
Selling an ESOP Company
You are the CEO of a very successful, 100% ESOP owned S corporation. The company is profitable and running very well, paying no federal or state income taxes. The employees are happy. Out of the blue, you get an offer from a third ...
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Form 5500: The Role of the Accountant and the Audit Report
What is an accountant's role in your annual return/report (Form 5500)? Conventional wisdom says that accountants or auditors have an integral role to play in the preparation of the annual report for employee benefit plans, from both a financial and a ...
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The Top 5 “Speed Bumps” When Terminating an ESOP
When terminating a qualified retirement plan, there are undeniably many details. Once the termination and wind up of the trust process begins, questions, loose ends and other “speed bumps” can slow down the process considerably. In this article, we ...
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M&A Benefits – How to Avoid an Employee Benefits Train Wreck in Your Next Deal
If the closing date is approaching on the purchase/sale of your or your client's company and you still don't have a plan for transitioning employee benefits, the result can be a train wreck. The seller can end up with liabilities they didn't ...
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What Can an ESOP Invest in Other Than Company Stock?
ESOPs are not required to invest exclusively in company stock. Kevin Long explains.
It's a fundamental requirement for ESOPs that they be primarily invested in employer securities, and typically, that's the common stock of the corporation ...
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Confused by the terminology? Check our Glossary of Terms