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Voluntary Corrections of Section 409A Operational Failures:  IRS Notice 2008-113 and Beyond


Author:  Alden J. Bianchi.


Source: Volume 23, Number 02, Fall 2009 , pp.5-18(14)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

This article describes the current state of the Section 409A deferred compensation voluntary correction program as set out in Notice 2008-113. It then explores other limited correction opportunities under the final Section 409A Regulations, and the proposed income inclusion regulations. The article concludes with some observations about the need for, and challenges in designing and implementing, a voluntary plan document correction program.

Keywords: Section 409A; Qualified Compensation Plans; Employee Plans Compliance Resolution System; EPCRS;

Affiliations:  1: Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C..

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