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IRS Finalizes Section 409A Regulations

As we go to press, the IRS has just issued final regulations under Section 409A of the Tax Code. As expected, these regulations require that nonqualified deferred compensation arrangements be amended to comply with Section 409A – or to fall within an exception to the 409A rules – by December 31, 2007. Future issues of Benefits in Brief will highlight key aspects of these final regulations. In the meantime, employers who have been waiting for the final regulations will now want to resume their compliance efforts.