Guest gnappi Posted November 26, 2007 Posted November 26, 2007 Is a prohibited allocation in an ESOP considered a prohibited transaction for form 5500 purposes? Any assistance would be greatly appreciated. Thanks.
BeckyMiller Posted December 12, 2007 Posted December 12, 2007 Nope - two different concepts that unfortunately use similar words. See IRC Section 409(p) or 409(n) for ESOPs and Section 4975 for prohibited transactions.
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