Change of Control

[jpod]

Is it still the case that a change in control of a partnership, or an LLC taxed as a partnership, is an allowable payment event under 409A, or has something changed in that regard? If nothing has changed does anyone remember where the most recent IRS statement confirming that can be found? Preamble to final regs? Preamble to proposed regs? Something earlier?

[Everett Moreland]

The most recent IRS statement is in the following footnote 1 of Notice 2010-6:

"However, until further guidance is issued, for purposes of identifying and correcting failures eligible for this section, taxpayers may apply the guidance provided in Section III.G of the Preamble to the final regulations issued under § 409A regarding application of change in control events by analogy to partnerships."