ESOP Services

Our ESOP services group is well recognized among industry leaders. With over 75 years of combined experience, we provide comprehensive services for ESOPs including education, communication, plan design, consulting and the ongoing administration. Full service recordkeeping and administration can include full integration with our Call Center and internet services, especially for KSOPs.

Swerdlin works with a team of service providers including valuation firms, trustees, attorneys and accountants. With our team approach, everyone is in the "loop" so nothing falls though the cracks and there is no duplication of services that results in higher fees to the clients.

Our ESOP services include:

• Full service recordkeeping administration
• Feasibility studies
• Repurchase Obligation Analysis/Studies
• Compliance services

Our full service recordkeeping administration includes an annual administration report summarizing the annual financial activity and compliance testing, including:

• Summary of Plan Provisions;
• Asset Reconciliation;
• Summary of Participant Accounts, including allocation of contributions, forfeitures and earnings for each participant
• Summary of Distributions for terminated participants; and
• Compliance testing, including:
  • Anti-abuse testing for Subchapter S ESOPs [IRC Section 409(p)]
  • Determination and monitoring of eligibility of selling shareholders [IRC Section 1042]
• Calculations
  • ESOP diversification calculations [IRC Section 401(a)(28)]
  • ESOP share-release calculations [ERISA Reg. Section 2550.408b-3]; and
  • Others as they apply

As an alternative to Call Center and internet services, we can still create customized participant statements and other communications without internet access.

Compliance services include:

• Form 5500 series and all related schedules;
• Summary Annual Report (SAR); and
• Forms 945, 1096 and 1099R to report plan distributions and withholding.