On June 21, 2016, the IRS issued proposed regulations under Sections 409A and 457 of the Internal Revenue Code. The new proposed Section 409A regulations clarify several issues under Section 409A's existing final regulations and tighten the requirements for correcting potential Section 409A violations by changing the time or form of payment of unvested amounts. The proposed Section 457 regulations prescribe rules impacting the deferred compensation arrangements of state or local governments or other tax-exempt organizations.

Practical Law presented a webinar on the new proposed rules with Daniel L. Hogans, Jeffrey W. Kroh, and David W. Powell of Groom Law Group. The webinar provides an overview of both sets of proposed regulations, highlights where they provide enhanced flexibility, and addresses what employers and practitioners need to do next. You can access the recorded webinar here.

Click here to download the webinar slides.