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IRS Updates Guide to Auditing Nonqualified Deferred Compensation Plans
Bradley Arant Boult Cummings LLPLink to more items from this source
July 19, 2015

"The [Nonqualified Deferred Compensation Audit Techniques Guide (June 2014)] notes that a NQDC plan that references the employer's 401(k) plan may contain a provision that could cause disqualification of the 401(k) plan. Code Section 401(k)(4)(A) provides that a 401(k) plan may not condition any other benefit (including participation in a NQDC) upon the employee's participation or nonparticipation in the 401(k) plan. The IRS will also review NQDC plans looking for a provision that limits the total amount that can be deferred between the NQDC plan and the 401(k) plan; it will look for a provision which states that participation is limited to employees who elect not to participate in the 401(k) plan."

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