First: The Corporation
You will need to incorporate.We will have some suggestions as to initial form and ownership. Your corporation will need to file an IRS Form SS-4 to apply for a Federal Taxpayer Identification Number. This can be accomplished almost instantaneously on the Internet. With your new corporate charter, authorizing resolution and corporate TIN, your bank will open for you a corporate checking account. This can be completed in a day.

Second: The ERSOP® plan
Complete the ERSOP® Company Questionnaire and Engagement Agreement and fax them to our office together with a copy of the Corporate Charter (Articles of Incorporation), we will proceed to prepare the adoption documents for your Profit Sharing Plan and Trust with special language. Then, upon receipt of your check or credit card payment for the first half of our fee, we will FedEx to you the signature pages along with a return FedEx envelope. Upon our receipt of the return FedEx envelope containing the signature pages and the second half of our fee, we will assemble the documents and FedEx them back to you in your new plan records binder. We will assist you in securing an additional Fed TIN for your new Plan and Trust. With your new plan documents, corporate resolutions and Trust TIN, your bank will open a checking account for the Trust. This takes 3 FedEx days. We will immediately submit your plan to the Internal Revenue Service for a favorable determination letter. There is a $300 filing fee with the IRS. This fee may be waived if there is at least one non-highly compensated employee.

Third: The Rollover
In order to be eligible for a rollover from your employer's retirement or 401(k) plan, you generally must have terminated employment with that employer. Larger employers make rollovers available in 30 days. If you are still employed, you should inquire now into your employers' distribution policy with its human resources / benefits department. We will assist you in preparing any forms to secure the "direct rollover" of your retirement assets into your new Trust checking account. Occasionally, some IRA custodians require special forms and signature guarantees. You, as trustee, will transfer money from the Trust checking account to the corporate checking account. Your new corporation will issue shares of its stock to the Trust. The corporation will now have cash in the bank and no debt. Your debt free, cash rich corporation will be an attractive borrower.

Then: Annually
The ERSOP® plan will require administration, allocations, trust accounting and federal government reporting, Form 5500, every year for an $800+ annual fee. Each corporate / plan year end, we will estimate the tax deductible contributions that you can make to what will become your favorite IRS "qualified" tax shelter.

* The IRS will assess a $25 per day penalty for failure to timely file the Form 5500 to a maximum of $15,000 each year. The due date of the return is 7 months, plus a 2 and 1/2 month extension, after the Plan / Corporation year end. For a December 31 year end the due date is the last day of the next following July which may be extended to the 15th of the next following October.

* All FedEx Packages will be sent to the address on your questionnaire, signed "Release Signature" unless otherwise requested.