Employee Stock Ownership Plans (ESOPs)
The Williams Mullen Employee Benefits & Executive Compensation Practice delivers comprehensive benefits counsel grounded in decades of experience to help public and private employers navigate the complex challenges of managing employee benefits. We provide strategic insight and tailored guidance on the full spectrum of employee benefits law, including ESOPs.
We help our ESOP clients create plans that address their business goals while taking advantage of the tax benefits available under the Internal Revenue Code. We guide our clients through the myriad of technical requirements so that the resulting ESOP meets both client-specific needs and all necessary compliance obligations.
We provide guidance on the creation of new ESOPS, amendments to existing ESOPS, and ESOP interpretation and administration. We advise on ESOP terminations and spin-offs, including the IRS determination letter process.
We advise ESOP sponsors and fiduciaries in a variety of industries, including construction, distribution, engineering, financial services, government contracting, manufacturing, and business services.
We also assist non-ESOP clients in matters where another party to the transaction is an ESOP-owned company (e.g., mergers and acquisitions, lending activities).
We stay educated on changes to the law impacting ESOPs, trends, and practical challenges facing ESOP companies through our membership in The ESOP Association, the premier organization for ESOP advocacy and education.
We can provide guidance if you are:
- Selling to an ESOP.
- Establishing an ESOP.
- An ESOP-owned company considering a sale to another entity, merger, or similar transaction.
- Considering buying, merging with, investing in, or lending to a company that sponsors an ESOP.
- Undergoing an IRS or DOL ESOP audit.
- Responding to any other IRS or DOL inquiry relating to an ESOP.
- Seeking guidance on ESOP compliance.
- Terminating or spinning off a leveraged or non-leveraged ESOP.
