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New IRS W-2 Code for Reporting Annual Deferrals of Income Under a NQDC Plan (PDF)
Internal Revenue Service via Mercer Human Resource Consulting 
Nov. 22, 2004
1 page. Excerpt: In Announcement 2004-96, the IRS unveiled a new code (Code Y) for use on the 2005 Form W-2 to identify annual deferrals of income under a nonqualified deferred compensation plan. The American Jobs Creation Act of 2004 (PL 108-357) added section 409A to the Internal Revenue Code. Section 409A generally takes effect after December 31, 2004, and requires employers to report annual deferrals under a nonqualified deferred compensation plan on each employee's Form W-2.
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