Nicholas Pension Consultants
Nova 401(k) Associates
Compensation Strategies Group, Ltd.
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|Prototype ESOP Documents Now Allowed|
Oct. 30, 2015
"[Employers] that decide to adopt a preapproved ESOP will need to complete IRS Form 8905 (Certification of Intent to Adopt a Pre-Approved Plan) before the end of their ESOP's current five-year remedial amendment cycle. Form 8905 serves as a record of an employer's intention to transition from an individually designed plan to a preapproved plan."