ESOP Law Blog : ESOP Lawyer & Attorney : Sheppard Mullin Law Firm : Employee Stock Ownership Plans : ESOP Law Blog

Today, Robert Gertner and Claire Diefenbach of the Employee Plans branch of the Internal Revenue Service (the "IRS") conducted a Phone Forum focused on the issues arising out of the ESOP determination letter process. The IRS focused on two of the Technical Assistance ("TA") requests released earlier this year and last year. We thought we would summarize some of the items discussed.
 

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The Internal Revenue Service (the "IRS") recently issued final regulations governing the diversification requirements for certain ESOPs. As discussed in our February 15, 2008 blog article, the IRS issued proposed regulations under section 401(a)(35) of the Internal Revenue Code (the "Code") in January 2008. The final regulations largely incorporate the proposed regulations with a few changes and clarifications.
 

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