ESOPs operate within a framework of tax law that creates specific rules and limitations service providers must follow when determining employer contributions and dividends each year. During this session, our presenters will walk through the key items to focus on for a successful approach to annual recordkeeping. We will also discuss how contribution and dividend decisions interact with plan funding needs. This session is designed to help service providers guide clients through annual compliance with confidence.
Learning Objectives
After attending this session, participants will be able to:
• Understand the maximum deductible contribution rules under Section 404 of the Code.
• Develop a process to help ensure ESOP payments are timed in a manner that avoids penalties from exceeding contribution limits.
• Gain knowledge of how dividends and S-distributions may provide additional deposit ability for funding needs.
Cristen Stier, CPA works with clients who have complex accounting needs. She oversees audits, reviews and compilations, and lends her eight years of expertise as a senior-level corporate financial executive when clients need consultation, strategy assistance and business insights. With a penchant for continuous learning and improvement, Cristen identifies tools and provides training that assists the Accounting & Audit team address increasingly complex client engagements.
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Danae De Ley, CPA, QPA, is the Director of ESOP Administration at Blue Ridge Associates. Passionate about helping clients achieve their goals through effective business succession and employee ownership strategies, Danae emphasizes the significant tax advantages and motivational benefits of ESOPs. Previously, Danae served as a Manager at AmbroseAdvisors and worked as a CPA at Roorda, Piquet & Bessee, Inc., specializing in employee benefit plans and ESOP compliance.
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