Section 409A Deferred Compensation: Compliance and Correction Options & the New IRS Audits

Duration: 60 minutes

Imagine this: You need to go into your CEO’s office and say, “Boss, I just found out that you’re subject to a 20% excise tax on your nonqualified deferred compensation.”

This nightmare scenario has become a reality for many because of Internal Revenue Code Section 409A. Learn how to avoid this situation – or correct it, if in fact Section 409A errors have occurred.

Section 409A requires compliance with strict design and operational guidelines. Failure to comply could result in significant federal income tax consequences to your key executives. But the reality is, despite being ten years into the adoption of Section 409A, many employers are still struggling with when it applies and how to comply with its requirements.

Recently, the IRS has begun a new audit initiative and will be aggressively auditing plans subject to Section 409A. It’s important for you to know the details of the new audit project and how to best prepare for an audit of your own plans (hint: audit yourself before the IRS does!)

With plan documentary compliance now required for all nonqualified deferred compensation, ensure your plans and agreements comply with Section 409A. In this 60-minute session you’ll learn how to identify the plans and agreements subject to Section 409A, spot problematic provisions and ensure your plans and agreements are operated in compliance. You’ll also learn how to: prepare a self-audit of your plans, address Section 409A errors and coordinate compliance in the years to come.