Information For:
Information For:
Information For:
Since passage of the CARES and SECURE Acts, we’ve seen several deadline and policy shifts in relation to employee stock ownership plans. On April 9, 2020, the IRS further redefined this year’s ESOP management calendar.
Notice 2020-23 extended a series of ESOP-related payment obligation and filing deadlines to July 15, 2020, for activities that would have normally been performed between April 1 and July 14, 2020. These include:
All were previously identified in Revenue Procedure 2018-58, which clarified extension deadlines during federally-declared disasters or military conflicts.
If you have questions about the April 2020 IRS notice, or if you plan to act on these deadline extensions, consult your tax or legal advisors. Our team is also available as an added resource. Please don't hesitate to email (info@csgpartners.com), call (212.443.5500), or schedule a meeting online.
Topics: ESOP Resources
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