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W2 Reporting on Employee Deferrals


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I feel like I am the kid going to the first day of school in looking at setting up this non qualified plan.  But I am also quite aware of the many pitfalls and trying hard not to step in them and cause problems down the road.

We are looking at setting up plan that has a discretionary employer contribution and also allows the employee to defer a portion of their pay. 

I am confused a bit by the IRS W2 directions because they do not seem to indicate any reporting in Box 12 Y for employee deferrals.  

From the NQDC Reporting Example chart in the IRS Publication

"Example 1—Deferral, immediately vested (no risk of forfeiture). Regular wages: $200 Defer, vested: $20 Employer match, vested: $10 Box 1 = $180 ($200 – $20) Boxes 3 and 5 = $210 ($200 + $10) Box 11 = $0"

There is no mention of Box 12 Y, yet the directions for Box 12 Y clearly indicate  "Deferrals under a section 409A nonqualified deferred compensation plan"

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