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Recent Articles, News and Announcements

IRS to Hold Phone Forum - Determination Letter Issues Regarding Employee Stock Ownership Plans Posted by esopwebmaster (2011/10/19)

Upcoming Phone Forum
Determination Letter Issues Regarding Employee Stock Ownership Plans - October 28, 2011

The presentation will cover topics such as technical issues affecting ESOPs and recurring issues noted in ESOP determination letter submissions. Presenters are Don Kieffer and Rick Parker in the Employee Plans Determination Letter program. Attendees are encouraged to submit questions in advance to ep.phoneforum@irs.gov on or before October 21, 2011.
To register, please visit the EP Phone Forum website at http://www.irs.gov/retirement/article/0,,id=218995,00.html

[2011/7/18] Se. Ayotte Introduced ESOP Appraiser Fiduciary Relief Legislation
Sen. Kelly Ayotte (NH) has introduced Senate Bill 1232, a bil that would exclude ESOP appraisers from the DOL's proposed expanded definition of fiduciary. The legislation was introduced June 20, 2011, and has been referred to the Senate Committee on Health, Education, Labor, and Pensions.

The bill would modify the definition of fiduciary under the Employee Retirement Income Security Act of 1974 to exclude appraisers of employee stock ownership plans. The text of the amendment to...
[2011/7/5] IRS Issues guidance re Readily Tradable securities
Definition of Readily Tradable On An Established Securities
Market

Notice 2011–19

Purpose

This notice provides guidance regarding when securities of the employer are readily tradable on an established securities
market or readily tradable on an established market for purposes of certain provisions of the Internal Revenue Code relating to employer securities held by certain qualified retirement plans.
...
[2011/7/5] Guidance - Form 5300 Applications for Employee Stock Ownership Plans
Employee Plans News - June 22, 2011 - Form 5300 Applications for Employee Stock Ownership Plans

EP Determinations has taken numerous steps to expedite and improve our determination letter application processing for Employee Stock Ownership Plans, including forming a cadre of determination letter specialists dedicated to review these plans. We are changing some procedures for reviewing ESOPs submitted on Form 5300, Application for Determination for Employee Benefit Plan, during Cycles...
[2011/4/1] DOL publishes public hearing transcript regarding proposed regulation on definition of fiduciary
DOL publishes public hearing transcript regarding proposed regulation on definition of fiduciary:

EBSA News Release: March 28, 2011
Contact Name: Mike Trupo or Jason Surbey
Phone Number: 202.693.3414 / 202.693.4668
US Department of Labor publishes public hearing transcript regarding proposed regulation on definition of fiduciary

WASHINGTON – The U.S. Department of Labor's Employee Benefits Security Administration announced today that they have posted online...