shareholder-employee

(3)For purposes of paragraph (2), the term “shareholder-employee” means an employee or officer of an S corporation (as defined in section 1361(a)(1) of such title) who owns (or is considered as owning within the meaning of section 318(a)(1) of such title) more than 5 percent of the outstanding stock of the corporation on any day during the taxable year of such corporation. (e)shall not apply to the acquisition or sale by a plan of qualifying employer securities (as defined in) or acquisition, sale or lease by a plan of qualifying employer real property (as defined in)—

Source

29 USC § 1108(d)(3)


Scoping language

For purposes of paragraph
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