Roundup of recent 409A developments for NQDC plans

Several 409A-related developments of interest to sponsors of nonqualified deferred compensation plans shed some light on current IRS views and compliance activities. The American Bar Association has posted a set of Q&As on 409A and other benefit issues, recapping informal Treasury and IRS guidance offered at meetings earlier this year. In addition, a recently released IRS chief counsel advisory raises 409A concerns about salary advances that offset deferred compensation. Finally, a number of companies have received 409A questionnaires from IRS auditors that focus on certain compliance areas.  (Select News, 3 Nov 2009)

• Full text of Q&As from ABA's JCEB 2009 meeting with IRS (JCEB, released 17 Sep 2009) (PDF)
• Full text of chief counsel's advisory (IRS, released 28 Aug 2009) (PDF)

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