IRC Section 409A
Overview:
The Treasury Department and the Internal Revenue Service (IRS) issued final 409A regulations which substantially contribute changes in the way non-qualified deferred compensation (NQDC) are treated for income tax purposes. Follow-up rule is the IRS Notice 2007-78 which extended the document compliance until January 1, 2008. Identifying the timing of distribution and deferrals are only some of the critical and very technical methods that need to be addressed firsthand. All key service providers are expected to submit, non-compliance will face a great risk of violating US tax laws. 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. The event will take place on October 24th, 2008, 12:00nn to 2:00pm (ET). The event will take place on October 24th, 2008 @ 12:00nn to 2:00pm (ET). Click the button below to register in this event.
Agenda:
SEGMENT 1: 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 SEGMENT 2: 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 SEGMENT 3: 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 SEGMENT 4: 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?
Who Should Attend:
- Private companies
- Public companies
- Compliance officers
- Auditors
- Accountants
- Attorneys
- Legal officers
- Tax advisors
- Tax preparers
- Payroll & Benefits Administrator
- Business consultants
Helen H. Morrison is the Acting Deputy Benefits Tax Counsel in the Office of Benefits Tax Counsel for the Department …
Chris is Vice President for Clark Consulting’s Technical Resource Group & Legal. He has significant experience regarding legal and tax …
Rob is Managing Senior Advisor in Clark Consulting’s Technical Resource Group. He has significant experience regarding the legal and tax …
Aliya Wong is the Director of Pension Policy at the United States Chamber of Commerce. Her primary responsibility is to …
Scott is a Director in Grant Thornton LLP’s Valuation Services Group. Mr. Beauchene specializes in the valuation of public and …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
83795
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
U.S. Department of the Treasury
About U.S. Department of the Treasury
About Clark Consulting
Website: https://www.clarkconsulting.com/
About U.S. Chamber of Commerce
Website: https://www.uschamber.com/
About Grant Thornton LLP
Website: https://www.grantthornton.com/