In addition to the legal services we provide for ESOP transactions, the actuaries of our third party administration department have vast experience in administering ESOPs for our clients. Since an ESOP is a type of defined contribution plan, we perform all regular defined contribution plan administrative services as applicable to ESOPs. In addition, all of the required, unique company share allocation calculations are performed along with all IRS compliance testing that is specific to ESOPs. We also provide the company with detailed participant level recordkeeping, including the annual employee benefit statements. When benefit distributions are made, we advise the company as to benefit distribution methods and the implementation of the ESOP put provisions as they apply to the participant. Of course, we also supply the necessary election and notification materials required for the distribution.