The Treasury Department and the Internal Revenue Service (IRS) issued final 409A regulations regarding non-qualified deferred compensation plans (NQDC). IRS Notice 2007-86 extended the “good faith compliance” standard through December 31, 2008. The final regulations are effective January 1, 2009. Plan documents and the election of the time and form of payment of the NQDC must be completed by the end of this year.
The Knowledge Congress is bringing together a panel of experts who will share their expert opinions in a two-hour webinar. Discussions will include the best approaches in complying with the said Rules. A live interaction with the audience in a question and answer format is also included.
Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect
to continuing education credit.)
Advance Preparation: Print and review course materials
Course Code: 083795
Helen H. Morrison
Deputy Benefits Tax Counsel, Office of Benefits Tax Counsel
Robert W. Kaufman, Esq.
Managing Senior Advisor, Technical Resource Group
Scott L. Beauchene
Director, Valuation Services
Chris Cykowski, Esq.
Vice President, Technical Resource Group & Legal
Aliya Wong
Director for Pension Policy
Helen H. Morrison, Deputy Benefits Tax Counsel, Office of Benefits Tax Counsel, U.S. Department of the Treasury
- Conclusion of 409A “good faith” compliance period December 31, 2008
- Requirements to bring plans into compliance
- Reporting and withholding guidance
- Future 409A guidance
Chris Cykowski, Esq. and Robert W. Kaufman, Esq., Vice President, Technical Resource Group & Legal and Managing Senior Advisor, Technical Resource Group, Clark Consulting
Bringing Voluntary Deferral Programs into Compliance with IRC 409A – An Overview of Prevalent Plan Design Features and Operational Practices Implemented by Plan Sponsors.
- “Class year” vs. “plan level” payment elections for certain distribution triggers
- Alternative methods for applying the 6-month delay for payments triggered by separation from
service
- Deferral elections for incentive compensation – use of the “performance based” compensation
deferral election timing rule
- Installment payments – treatment as a “single” payment vs. a series of “separate” payments
- The “toggle” rule – use of alternate payment schedules tied to a participant’s separation from
service
Aliya Wong, Director for Pension Policy, U.S. Chamber of Commerce
- 409A and Performance-based Compensation under 162(m)
» PLR 200804004 and Rev Proc 2008-13 have changed the rules going forward.
» Discussion of how employers will need to restructure 409A plans in the wake of this guidance and what the transitions rules mean in the short term.
- Proposed legislation that could broaden 409A
» Annual limits on deferred compensation
» Linking non-qualified deferred compensation benefits to the solvency of qualified plans
- The Correction Program
» Short compliance window
» Employer paid taxes treated as income to service provider
» Withholding and other taxes not addressed
- Relationship between backdated option guidance and 409A
Scott L. Beauchene, Director, Valuation Services, Grant Thornton LLP
- 409A stock option valuations: does current valuation practice match the regulations?
- Has the IRS honed their reviews of 409A valuation work?
- Is there any new guidance for practitioners?
- What pitfalls should I attempt to avoid in my 409A valuation work?
- What is the relationship between my 409A valuation work and other provisions about compensation in 409A?
- Private companies
- Public companies
- Compliance officers
- Auditors
- Accountants
- Attorneys
- Legal officers
- Tax advisors
- Tax preparers
- Payroll & Benefits Administrator
- Business consultants
This is a must attend event for anyone interested in understanding the related issues and developments on IRC Section 409A.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A