Employee Benefits - April 2007: IRS Releases Final Regulations Regarding Nonqualified Deferred Compensation Plans
In late 2004, Congress added new Section 409A to the Internal Revenue Code to deal with perceived abuses involving "nonqualified deferred compensation plans." Section 409A became effective as of January 1, 2005. Proposed regulations were released in late 2005 and on April 10, 2007, the IRS finally published the long awaited, final regulations. Click the link to learn more.