2009 Form 5500 ESOP Characteristic Codes

[Guest ABABAK]

We only have a few ESOP plans in our practice. We are filing our first ESOP 2009 Form 5500 of the year. The plan is a Stock Bonus - a money purchase provision along with a stock bonus.

1. Is the only applicable code on the new form the 2C? There is no ESOP code anymore.

2. On the Schedule R Section IV, we assume we answer all the questions 10, 11 and 12. This is not a leveraged plan. It is also a non-public firm.

Any insights??? Thank you.

[A Shot in the Dark]

Look closer at the codes. There are now two possible codes for an ESOP, 2O for non leveraged and 2P for leveraged.

And ofcourse 2Q, if the employer sponsoring the ESOP is a "S" Corporation.

Yes, we are using the code 2C for the ESOPs that we provided services to that have a Fixed Contribution (or Money Purchase) component.

[Guest ABABAK]

We only have a few ESOP plans in our practice. We are filing our first ESOP 2009 Form 5500 of the year. The plan is a Stock Bonus - a money purchase provision along with a stock bonus.

1. Is the only applicable code on the new form the 2C? There is no ESOP code anymore.

2. On the Schedule R Section IV, we assume we answer all the questions 10, 11 and 12. This is not a leveraged plan. It is also a non-public firm.

Any insights??? Thank you.