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Found 2 results

  1. Guest
    Ok, so I'm crying uncle in trying to find the correct way to do this. Any ESOP Experts out there???? Please chime in. Cash Dividends were used to pay down a leveraged loan. The split between the two are approx 6% allocated and 94% unallocated. Using round numbers, the Employer made a $100,000 dividend payment. So naturally $6,000 would be for the allocated shares and $94,000 for the unallocated shares. Shewwww I can do math! So doing the FMV calculation, we find that the shares value based on the day before the loan payment is greater than the FMV on the date the dividends were declared. So no adjustments necessary. Shewwww again! So we move on to the share release. The loan payments paid with cash and unallocated dividends are released on proata compensation (according to the document). Easy Peasy....Shewww! The allocated dividend shares are to be released on prorata shares. OHHH crap. So my question is this..... Is the actual transaction a contribution or is it a dividend or just a transfer in? No where (that I can find) tells you exactly how the transaction should be structured from a recordkeeping endeavor. HELP!!!!
  2. Guest
    Is there a place I can find in the IRS Regulations that specifically explains that within a qualified plan, the Dividends from the Employer Stock that are paid out to a participant, do not affect that participant's Lump Sum Eligibilty? Even after a qualifying event? Also, is there an IRS regulation that explains what actually disqualifies a participant from lump sum eligibility?
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