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Text of IRS Notice 2007-78: 2008 Transition Relief and Additional Guidance on the Application of § 409A to Nonqualified Deferred Comp Plans (PDF)
Internal Revenue Service [IRS]
[Official Guidance] Sept. 10, 2007
27 pages. Provides extension of deadline for document compliance (to December 31, 2008); guidance and additional relief addressing certain issues raised by the application of 409A to employment agreements and cashout features; an announcement that the IRS anticipates a limited voluntary compliance program for unintentional operational violations of 409A; and says no extension is provided to the December 31, 2007 deadline applicable to 'grace period assets' that are subject to 409A(b).
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