Schedule E (Form 5500) - Esop Annual Information - 1998

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ESOP Annual Information
OMB No. 1210-0016
Under Section 6047(e) of the Internal Revenue Code
(Form 5500)
File as an attachment to Form 5500, 5500-C/R, or 5500-EZ.
This Form Is NOT Open
For Paperwork Reduction Act Notice, see the instructions
Department of the Treasury
to Public Inspection
for Form 5500, 5500-C/R, or 5500-EZ.
Internal Revenue Service
For the calendar year 1998 or fiscal plan year beginning
, 1998, and ending
, 19
Name of employer/plan sponsor as shown on line 1a of Form 5500, 5500-C/R, or 5500-EZ
Employer identification number
Name of plan
plan number
Yes No
Did the employee stock ownership plan (ESOP) have an outstanding securities acquisition loan within the meaning
of Code section 133 during the plan year?
Did the employer maintaining the ESOP pay dividends (deductible under section 404(k)) on the employer’s stock
held by the ESOP during the employer’s tax year in which the plan year ends?
If both line 1a and line 1b are “No,” DO NOT complete any other questions on this schedule. Attach the schedule
to the Form 5500, 5500-C/R, or 5500-EZ you file for your ESOP plan.
What is the total value of the ESOP assets?
If the ESOP holds preferred stock, under what formula is the preferred stock convertible into common stock of
the employer corporation?
If unallocated employer securities were released from a loan suspense account, indicate below the methods used:
Principal and interest (Excise Tax Regulations section 54.4975-7(b)(8)(i));
Principal only (Excise Tax Regulations section 54.4975-7(b)(8)(ii));
Other (attach an explanation)
Were unallocated securities or proceeds from the sale of unallocated securities used to repay any exempt loan
(within the meaning of Code section 4975(d)(3))?
If “Yes,” attach a description of the transaction.
If the ESOP or the employer corporation has one or more outstanding securities acquisition loans intended to
satisfy Code section 133, complete lines 6 through 11, otherwise skip to line 12.
Was the ESOP loan part of a “back to back” loan? (See instructions for definition of “back to back” loan.)
If line 6a is “Yes,” are the terms of the two loans substantially similar?
Do the two loans have the same amortization schedule? If “No,” attach an explanation of how the amortization
schedules differ
Is the loan an immediate allocation loan as defined in Code section 133(b)(1)(B)?
What was the date of the securities acquisition loan?
At all times after the acquisition of the employer securities with the loan proceeds, did the ESOP own more than
50% of: (i) each class of outstanding stock of the employer corporation, or (ii) the total value of all outstanding
stock of the corporation?
If line 8b is “No,” does the securities acquisition loan satisfy one of the transition rules of Act section 7301(f) of OBRA
1989 or satisfy the exception in Code section 133(b)(6)(B)(ii)? (See instructions for explanation of transition rules.)
If line 8c is “No,” enter the name and address of payees to whom interest with respect to securities acquisition
loans was paid
What was the amount of interest paid on the securities acquisition loan?
Were any securities disposed of within 3 years after the plan acquired section 133 securities in a taxable event
described in Code section 4978B(c)?
If line 10a is “Yes,” does one or more of the exceptions provided in Code section 4978B(d) apply to all dispositions
of employer securities?
Were any of the ESOP’s securities acquisition loans refinanced during this reporting period?
If line 11a is “Yes,” does the refinancing meet the requirements of Act section 1602 of SBJPA 1996?
If the employer maintaining the ESOP deducted dividends under Code section 404(k), answer the questions on
lines 12 through 14, otherwise skip to line 15.
Did the amount of the dividends paid exceed the employer’s current or accumulated earnings and profits within
the meaning of Code section 316?
Is the amount paid a dividend under applicable state law?
If dividends deducted under Code section 404(k) were used to repay an exempt loan, were any dividends used
to repay the loan generated by securities that were not acquired with the proceeds of the loan being repaid?
If the answer to line 13 is “Yes,” were the dividends paid with respect to employer securities that satisfy the
transition rules of Act section 7302(b)(2) of OBRA 1989?
(Form 5500)
Cat. No. 12349Y
Schedule E


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