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I'm a new user to ftwilliam software.  Even though I've drafted and worked

with a number of S ESOP plan documents over the years.

Ftwilliam seems to be one of a few firms in 2021 with an IRS Pre approval letter they received

for their ESOP Plan document which was

dated June 2020 from IRS. (ftwilliam didn't release the letter to users until Mar 2021)

Even with the pre approval letter are you (as ESOP practitioners) still filing an application for determination of initial qualification (form 5300? 5307?)?

Thoughts and comments appreciated.


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  • 3 weeks later...

I'll be following this thread to see if anyone else comments but from my understanding (take with heavy dose of salt) we will not be filing, even with plans that need several amendments on top of the pre-approved plan.  The idea being the pre-approved plans do not need to be filed or reviewed, and in the case of the additional amendments fortunately they are simple enough and we're confident they would pass any inspection/audit.

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