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IRS Initiates Audits Under Section 409A: Now Is a Good Time for Closely Held Businesses to Review Potential Issues
EisnerAmper Link to more items from this source
June 17, 2014

"An employment agreement can serve as the plan document, but it must contain the necessary language and/or be designed to comply with section 409A.... for non-public companies there are specific requirements that must be met in order for the plan to be exempt from section 409A.... Unlike SARs, which may be structured to avoid falling under the parameters of section 409A, phantom stock is deferred compensation, subject to section 409A.... To comply with the short-term deferral rule under section 409A, it is advisable that the intent to settle the award within 2-1/2 months after the tax year of vesting be stated in the plan document."

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