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New 409A Developments: What to Do Before Year End

ABA JOINT COMMITTEE ON EMPLOYEE BENEFITS  • DATE: October 17, 2007
SPONSORS: The Sections of Business Law, Health Law, Labor and Employment Law, Real Property, Trust and Estate Law, Taxation, and Tort Trial and Insurance Practice; And the American College of Employee Benefits Counsel

General Information

ARCHIVED WEB STREAM NOW AVAILABLE - under ATTENDEE AREA

A 90-minute TeleConference/Live Audio Webcast
Wednesday, October 17, 2007
1:00 - 2:30 pm ET / 12:00 - 11:30 pm CT / 11:00 am -12:30 pm MT / 10:00 - 11:30 am PT

Moderator:
Martha N. Steinman,
Dewey &
LeBoeuf LLP, New York, NY

Panelists:
Helen Morrison, Attorney-Advisor, Office of Benefits Tax Counsel, U.S. Department of Treasury, Washington, DC
William C. Schmidt,  Senior Counsel, Office of Division Counsel/Associate Chief Counsel, (TE/GE,)  Internal Revenue Service, Washington, DC
Daniel L. Hogans, Morgan, Lewis & Bockius LLP, Washington, DC

In Notice 2007-78 issued September 10, the IRS extended certain limited aspects of the deadline for complying with the written plan document requirements of Section 409A for deferred compensation plans.  Affected arrangements include all ongoing nonqualified deferred compensation plans as well as certain severance plans, equity compensation plans, employment agreements and other arrangements subject to Section 409A that are not traditionally thought of as deferred compensation.  Corporations, partnerships and nonprofit organizations sponsoring deferred compensation plans still have a significant amount of work that must be completed, including documentation of irrevocable payment elections and conditions, before the end of 2007 to ensure that their plans are in compliance with Section 409A. The panel of government and private sector practitioners will discuss the actions that need to be completed before year end under the Notice and the final regulations.  In this context, the panel also will discuss:

·  Transition relief under Notice 2007-78

·  Possible voluntary corrections

·  Designating time and form of payment

·  Implementing the 6-month payment delay

·  New agreements versus substitutions

·  Restrictions on funding

 

**To pay by check, mail to ABA/JCEB, 3rd Floor, 740 15th Street, N.W., Washington, DC 20005**


   
New 409A Developments: What to Do Before Year End
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Compensation for Executives and Directors

Need more information on the Rapidly Changing Requirements of 409A - including the latest developments on year-end requirements, compliance deadline extensions and any new legislationRegister for the Compensation for Executives and Directors National Institute in New York,  NY, Nov. 12-13