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IRS Issues Sample Plan Language for Transfer for ESOP's S Corp Shares to Prevent Nonallocation Year
The Pension Protection Act Blog 
[Guidance Overview] July 3, 2008
Excerpt: This plan language is designed to prevent a nonallocation year by transferring assets from the accounts of disqualified persons to the non-ESOP portion of the plan according to Treas. Reg. 1.409(p)-1(f). A nonallocation year can occur when disqualified persons, as defined in Code section 409(p)(4), own or are deemed to own 50% of the outstanding stock of an S corporation.
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