Miner88 Posted March 31, 2010 Posted March 31, 2010 We have a deferred vested SERP participant who became eligible for payment on 1/1/2009 (due to turning age 55). Several attempts were made to contact him, including using the IRS locator service and the SSA, but he cannot be found. What must be done to comply with 409A at this point? Any suggestions would be appreciated!
david rigby Posted March 31, 2010 Posted March 31, 2010 Possibly deceased? http://ssdi.rootsweb.ancestry.com/ I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Miner88 Posted March 31, 2010 Author Posted March 31, 2010 Thanks for the reply! His social security number is still active - HR believes he may have moved out of the country.
Ann P. West Posted May 24, 2010 Posted May 24, 2010 Did you ever come up with a good response for this issue? I have the same issue and my inclination is to have the client report the payment and the tax withholdings and consider the participant to be in constructive receipt of the payment.
rcline46 Posted May 24, 2010 Posted May 24, 2010 Have you tried a private locator service? Several advertise here on benefitslink.
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