EMPLOYEE PLANS

Rev. Rul. 2003–6, page 286. Employee stock ownership plans; delayed effective date; abuse. This ruling states that where the intent of section 409(p) of the Code to limit the establishment of ESOPs by S corporations to those that provide broad-based employee coverage and that benefit rank-and-file employees (as well as highly compensated employees and historical owners) is not present, the delayed effective date in section 656(d)(2) of EGTRRA is not available and that such transactions are listed transactions.

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Rev. Rul. 2003–11, page 285. Limitation on annual compensation; section 611(c) of EGTRRA. This ruling pertains to whether the allowable compensation limit enacted by section 611(c) of EGTRRA may be applied to former employees and meet the nondiscrimination and coverage requirements of the Code.

Notice 2003–6, page 298. Nondiscrimination rules; certain governmental plans. This document announces that the Service intends to issue regulations regarding how, and the extent to which, the nondiscrimination rules apply to governmental plans under section 414(d) of the Code other than those maintained by a state or local government, political subdivision, agency, or instrumentality thereof. Comments are requested regarding the content of these regulations. Notice 2001–46 modified.