Ongoing Support

Invest in Your Employees
and Your Business with an ESOP

Congratulations on your Employee Stock Ownership Plan. We developed our Ongoing Support for ESOP Ownership services due to experience with other clients that needed guidance after the transaction through the implementation phase. Let us be a resource in providing these possible services that might be helpful as your company moves into the compliance requirements of becoming an ESOP company:

Advisory & Support

Initial ESOP Accounting & Transactions

Expert support for accounting related to plan formation, initial transactions, and equity setup.

Banking & Financial Coordination

Guidance on establishing and managing ESOP-related banking functions, including lines of credit and dedicated bank accounts.

Trustee & Fiduciary Support

Assistance with trustee coordination and fiduciary insurance for trustees and the board.

Valuation Coordination

Help in selecting an independent appraiser and confirming the valuation timeline.

Third-Party Administration (TPA) Support

Guidance on selecting and retaining a qualified third-party administrator.

Board Advisory

Strategic advice for the Board of Directors on ESOP governance and responsibilities.

Ongoing ESOP Accounting & Classification

Continued support for accounting treatment, classification of contributions, contra equity entries, and compensation expense.

Accounting & Compliance Support

Ongoing Contribution Accounting
Expert handling of ESOP accounting for continuing contributions.

Share Release Calculations
Accurate support for calculating and managing share releases.

Compensation Expense Accounting
Guidance on recognizing and managing ESOP-related compensation expense.

Benefit Level Management
Strategic support to manage and monitor participant benefit levels.

IRS & DOL Compliance Consulting
Consulting services to help ensure full compliance with IRS and Department of Labor regulations.

Audit & Banking Compliance Support
Assistance with ESOP-related audits and meeting bank compliance requirements.

Participant Reporting Support
Clear, accurate participant statements and reporting assistance.

When we say experts, we mean experts.

Below is a list of accredited affiliations and associations our audit team work with on a regular basis.

"Our leadership team appreciate Berman Hopkin’s advisors as we went through the formation of our ESOP given their solid ESOP knowledge and their customized approach to our specific needs as a company.”

Michael Rodriguez
E-Z Bel Construction LLC