Additional Transition Relief Under Section 409A

Law360, New York (November 2, 2007, 12:00 AM EDT) -- Recently, the IRS issued Notice 2007-86, generally extending the transition relief under Section 409A of the Internal Revenue Code (the "Code") applicable to nonqualified deferred compensation plans that was scheduled to expire on December 31, 2007.

This transition relief partially revokes and supersedes the limited transition relief provided by Notice 2007-78, issued earlier this year. In addition, the IRS has issued Notice 2007-89, which provides guidance to employers on their reporting and withholding obligations for calendar year 2007 with respect to deferrals of compensation and amounts...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.