Search Results for keywords:"Employee Stock Ownership Plan"

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Search Results: keywords:"Employee Stock Ownership Plan"

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  • 2021-03049 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:86 FR 9504
    Reading Time:about a minute or two

    The Federal Reserve System has announced that certain companies are seeking approval to become bank holding companies or to acquire control of banks or bank holding companies. These applications are open for public inspection and comment. For example, Community Bancshares of Mississippi, Inc. Employee Stock Ownership Plan intends to acquire 19.34% of Community Bancshares of Mississippi, Inc. Interested parties must submit their comments by March 18, 2021.

    Simple Explanation

    The Federal Reserve is letting everyone know that some companies want to own banks or more of the banks they already own, and people can say what they think about this until March 18, 2021.

  • 2021-03375 — Proposed Collection; Comment Request for Form 5309
    Type:Notice
    Citation:86 FR 10433
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is seeking public comments on an information collection related to the Application for Determination of Employee Stock Ownership Plan. This is part of their effort to reduce paperwork and respondent burden, as required by the Paperwork Reduction Act of 1995. Comments should address the necessity and effectiveness of the information collection, and be submitted by April 20, 2021. The IRS estimates that 2,500 responses will be received, each taking approximately 10 hours and 47 minutes to complete.

    Simple Explanation

    The IRS wants to hear what people think about a form used to check special plans where employees own part of the company, trying to make sure filling it out is easy and doesn't take too long. They think it might take a lot of time to fill out, so they're asking if there's a better way to do it.