Whoops - what if we contributed too much to our ESOP?

I want to return to our Q&A on the limits on employer contributions to an ESOP –

I get this question frequently – “what happens if we need to contribute more to the ESOP than is allowed under the limits of the Internal Revenue Code?”

Then the questioner may go on to add – “we are not really concerned that our contribution in excess of the limit would not be deductible.”

The problem is that the contribution in excess of the limit is not only non-deductible but is generally subject to a 10% excise tax.   And the excise tax may not just be a one-time occurrence. The excess contribution is carried over and is applied toward the contribution limit in the succeeding taxable year. Thus, if the employer intends to contribute up to the maximum in that succeeding year and does not reduce that contribution by the prior year excess, there will likely be another excess and another excise tax.

So at this point, I am usually told that I am “no fun” but remember it is not my rule, it is the IRS’s rule.

So my next question is - is there a way to get cash into the ESOP other than as a contribution?