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Corporate Transparency Act Issues for ESOPs
Kaufman & Canoles, P.C. 
[Guidance Overview] Apr. 4, 2024 "For companies owned 25% or more by an ESOP, the trustee of the ESOP Trust is likely a Beneficial Owner for CTA reporting purposes. Issuance of warrants to selling shareholders in the sale of shares to an ESOP is common, and such selling shareholders may also be considered Beneficial Owners if they were issued more than 25% of the fully diluted equity of the entity in the form of warrants or hold a combination of warrants and stock accounting for more than 25%." |
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