IRS Establishes Voluntary Correction Program Under Code Section 409A

more+
less-

Earlier this month the Internal Revenue Service established a correction program which, under certain conditions, allows employers to bring employment agreements and other nonqualified deferred compensation arrangements into compliance with Internal Revenue Code Section 409A. Importantly, the program includes a transition period by which eligible plan document failures may be corrected by December 31, 2010 without penalty.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.