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TREAS/IRS RIN: 1545-BM32 Publication ID: Fall 2021 
Title: Requirements for Employee Stock Ownership Plans 

The proposed regulations prescribe rules under Code sections relating to employee stock ownership plans (ESOPs), including sections 401(a)(28), 404(k), 409, 4975(d)(3), and 4975(e)(7). The proposed regulations also update existing regulations relating to ESOPs: section 54.4975-7, and section 54.4975-11.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1.46-7    26 CFR 1.46-8    26 CFR 1.46-9    26 CFR 1.409(p)-1    26 CFR 54.4975-7    26 CFR 54.4975-11    26 CFR 54.4975-12   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 401(a)(28), 404(k) and 409    26 U.S.C. 4975(e)(7)   
Legal Deadline:  None
Action Date FR Cite
NPRM  10/00/2022 
Additional Information: REG-100906-14 (NPRM) Drafter attorney: Naomi Lehr (202) 317-4102 Reviewer attorney: John Ricotta (202) 317-4102 Treasury attorney: Helen Morrison (202) 622-5293 CC:EEE
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Naomi Lehr
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-4102