Guest Bob Lees Posted February 27, 2001 Posted February 27, 2001 We have a client with multiple S-Corps. Is it possible for him to setup an ESOP for only a couple of his S-Corps and have no ESOP for the others?
RLL Posted February 27, 2001 Posted February 27, 2001 Maybe....IRC section 414(B) requires that all members of a "controlled group" of corporations be taken into account in determining whether an ESOP (or other retirement plan) meets the section 410(B) nondiscriminatory coverage requirement. So it depends on how many (and which) employees of the "controlled group" would be covered under the ESOP and how many (and which) would be excluded.
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