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By retaining
Venture Compass to set up an ESOP for your company,
our team will guide you through the following steps: |
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| 1 |
Conducting
a feasibility study to determine whether your
company is a viable ESOP candidate |
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| 2 |
Arranging for a
preliminary valuation to be performed by a
Qualified Independent Appraiser |
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| 3 |
Obtaining any funding
for the ESOP |
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| 4 |
Drafting the Employee
Stock Ownership Plan & Stock Ownership
Trust Agreement |
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| 5 |
Applying to the
IRS for Letter of Determination Submitted
with Plan & Trust Agreement |
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| 6 |
Selecting a fiduciary
or ESOP committee |
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| 7 |
Designing a communication
plan to educate employees |
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| 8 |
Selecting a plan
administrator |
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| 9 |
Selling your company
stock to the ESOP |
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| 10 |
Analyzing and potentially
executing a Section 1042 exchange |
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