Employee Stock Ownership Plan Services
ADS provides full ESOP recordkeeping and plan administration services that utilize the most recent technologies available in the retirement plan market. Our goal is to provide the most accurate, efficient and timely services for your retirement plan.
Plan Administration Services
- Plan design consultation
- Monitor regulatory and legislative developments
- Recommend and prepare procedures to properly administer plan
- Assistance on projections of repurchase liabilities
Compliance and Government Reporting Services
- Annual required nondiscrimination testing, as applicable (e.g. plan coverage, top-heavy testing, required minimum distributions, etc.)
- Ensure compliance with Internal Revenue Code requirements peculiar to ESOP’s
- Signature ready IRS Form 5500 with related schedules
- Preparation of the Summary Annual Report
- Preparation of proxy labels, as necessary, to satisfy voting pass-through requirements
- Audit package and assistance with plan audits
Recordkeeping Services
- Annual valuation of participant accounts
- Allocation of contributions and dividend allocations, as applicable
- Preparation of allocation report, determination of employer stock releases and redistribution of internal stock repurchases, as necessary
- Preparation of distribution election forms
- Preparation of ESOP diversification election forms
- Track loan repayments through employer contributions and dividends
Participant Services
- 24-hour Internet and toll free telephone access to account information
- Customer Service Representatives available 8:00am – 6:00pm ET
- Annual participant statements detailing account activity mailed to participant home address