Legal Alert - Transition Relief for Correction of Section 409A Release Agreement Timing Failures Expires on December 31, 2012
October 03, 2012
by Thomas R. Hoecker, Marvin S. (Bucky) Swift, Jr., Anne M. Meyer and Greg Gautam
Change in control, severance, employment and other nonqualified deferred compensation agreements that are subject to Section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A"), and require an employee to sign a release to receive payment, should be reviewed for compliance with the documentary requirements of Section 409A by December 31, 2012. Failure to identify and amend these agreements by year-end could create tax problems for the employees covered by such agreements.
©2024 Snell & Wilmer L.L.P. All rights reserved. The purpose of this publication is to provide readers with information on current topics of general interest and nothing herein shall be construed to create, offer, or memorialize the existence of an attorney-client relationship. The content should not be considered legal advice or opinion, because it may not apply to the specific facts of a particular matter. As guidance in areas is constantly changing and evolving, you should consider checking for updated guidance, or consult with legal counsel, before making any decisions.
One East Washington Street
| Suite 2700
| Phoenix, AZ 85004
The material in this newsletter may not be reproduced, distributed, transmitted, cached or otherwise used, except with the written permission of Snell & Wilmer.
The material in this newsletter may not be reproduced, distributed, transmitted, cached or otherwise used, except with the written permission of Snell & Wilmer.