Correcting Errors Under Section 409A | Practical Law

Correcting Errors Under Section 409A | Practical Law

A Practice Note explaining the available methods for correcting violations of Section 409A of the Internal Revenue Code, which applies to nonqualified deferred compensation plans. The three available correction methods can be used to correct operational failures under IRS Notice 2008-113, document failures under IRS Notice 2010-6, and failures related to compensation that is still subject to a substantial risk of forfeiture under the proposed income inclusion regulations.

Correcting Errors Under Section 409A

Practical Law Practice Note 5-503-0749 (Approx. 32 pages)

Correcting Errors Under Section 409A

by Durward J. "Jim" Gehring, Seyfarth Shaw LLP, with Practical Law Employee Benefits & Executive Compensation
MaintainedUSA (National/Federal)
A Practice Note explaining the available methods for correcting violations of Section 409A of the Internal Revenue Code, which applies to nonqualified deferred compensation plans. The three available correction methods can be used to correct operational failures under IRS Notice 2008-113, document failures under IRS Notice 2010-6, and failures related to compensation that is still subject to a substantial risk of forfeiture under the proposed income inclusion regulations.