Publication
Employee Benefits Update (September 2010)
Earlier this year, the IRS instituted a program that allows employers to correct provisions in a plan document or other arrangement (collectively referred to as "plans") that might violate Section 409A of the Internal Revenue Code (“Section 409A”). Importantly, this program (“Notice 2010-6” or the “Document Correction Program”) includes transition relief that generally allows employers to correct certain technical problems without the imposition of Section 409A penalties, which are described below. This transition relief is only available for corrections that are made on or before December 31, 2010.
About Snell & Wilmer
Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
