Benefits & ERISA Law

IRS Schedules Hearing on Proposed Regs on ESOPs

By Suzanne Wynn

The IRS has scheduled a hearing on the Proposed Regulations affecting Employee Stock Purchase Plans Under Internal Revenue Code section 423 for Thursday, January 15, 2009, at 10am (also known as the Thursday before the Inauguration).

Originally issued on July 29, 2008, and effective on January 1, 2010, these proposed regulations provide a “comprehensive set of rules governing stock options issued under an employee stock purchase plan” and “incorporate substantially all of the rules contained in the existing regulations under section 423″. I was hopeful that these proposed regulations would be finalized and make the Cycle D Cumulative List so ESOPs required to restate by January 31, 2010 could incorporate these proposed regulations.

So if you are able to find a hotel room in D.C. for January 15, 2009, please give me a call. I want to attend this hearing because there are a number of issues in these proposed regulations which warrant considered discussion by the entire ESOP community.

Full post as published by Pension Protection Act Blog on November 25, 2008 (boomark / email).