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TREAS/IRS RIN: 1545-BC34 Publication ID: Spring 2006 
Title: Prohibited Allocation of Securities in an S Corporation 
Abstract: The regulation will provide guidance for employee stock ownership plans holding stock of a subchapter S corporation concerning the prohibition against allocations to disqualified persons under section 409(p). 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 7805    26 USC 409(p)(7)(A)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/21/2003  68 FR 43058   
NPRM Comment Period End  10/20/2003    
Second NPRM  12/17/2004  69 FR 75492   
Second NPRM Comment Period End  03/17/2005    
Hearing  04/20/2005    
Final Action  06/00/2006    
Additional Information: REG-129709-03 Drafting attorney: John T. Ricotta (202) 622-6060 Reviewing attorney: Marjorie Hoffman (202) 622-6060 CC: TEGE
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
Related RINs: Related to 1545-BC33 
Agency Contact:
John T. Ricotta
Branch Chief
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-4102
Fax:202 927-1851
Email: john.t.ricotta@irscounsel.treas.gov