he IRS has released a comparatively short set of adjustments and clarifications to the rules for nonqualified deferred compensation plans subject to Code §409A. The 65-page package of regulatory language and explanation covers 19 changes to the 409A rules. While the new rules are technically only proposed, taxpayers can rely on them immediately and the IRS will follow the proposals in auditing plans. Get all details in this special 100 minute web seminar, along with analysis on how the new rules will impact 409A plan documents.
New anti-abuse rule
Correction of errors for amounts not subject to forfeiture risk
Clarification of the relationship with Code §457 and §457A
Loosening of short-term deferral rule
Expansion of separation pay rules
Modification of rules on recurring part-year compensation
Relief for attorney fee payment arrangements
Clarification regarding change in status from employee to independent contractor
New rule regarding payment dates
Effective date and reliance
Plan document and amendment issues
There are no prerequisites or other advanced preparation for this program. The speaker will assume attendees generally understand the 409A regulations as they existed and generally familiar with the 409A correction programs. A minimum of 2 years of experience in dealing with nonqualified deferred compensation plans is recommended.
Instructional Delivery Method
NASBA Field of Study: Taxes
Speaker: S. Derrin Watson, J.D.
Recipient of ASPPA's 2006 Educator of the Year Award
After attending this Web seminar, an attendee should be able to:
List key changes in the proposed regulations
Advise taxpayers on possible amendments to 409A plans
Determine whether a potential payment acceleration is now permitted
Assist taxpayers to avoid the anti-abuse rules
More Information, How to Register