ESOP Implementation Process 

Step 1: Investigation

• Determine employee interest.

• Contact a portfolio manager.

• Review the boilerplate documents.

• A presentation to employees by your portfolio manager is available.  

• Consult your professional advisors.

Step 2: Implementation

• Work with ministry staff to register your ESOP plan.  We will provide sample plans and concrete examples of successful ESOP terms, and guide you through the process.

• Review the ESOP Plan with your professional advisors.

Step 3: Share Offering

• Prepare the Share Offering Document ( 104 kb)  to offer shares to employees.

• Receive the purchase funds (cash and/or payroll deductions) and issue shares when payments are complete.

• Distribute investment confirmations to the employee investors.

• Place shares in escrow (3-year hold period).

• Complete and deliver the Tax Credit Application ( 50 kb) , Control Sheet ( 31 kb), and original share certificates to the ministry.

Step 4: Annual Reporting

• Prepare and deliver financial statements to the employee shareholders.

• Complete the Annual Return ( 89 kb) and forward to the ministry.

• Hold an annual shareholder meeting and distribute a report to shareholders.