Finding Clarity Under Section 409A of the Internal Revenue Code

Holland & Knight attorneys Victoria Zerjav, Bob Friedman and Christopher Buch will be discussing the recent proposed regulations from the Internal Revenue Service (IRS) to modify and clarify existing rules under Section 409A of the Internal Revenue Code and how it affects employers and employee benefits. The proposed regulations answer some long-standing questions about Code Section 409A and raise new issues as well, including questions relating to when a payment is made, when a separation from service occurs and how proper corrections are to be made.

Since the adoption of Code Section 409A, our attorneys have been interpreting and applying the rules governing nonqualified deferred compensation in the Code Section 409A paradigm. Our extensive advice relating to nonqualified deferred compensation generally includes: 

• reviewing plans and agreements to identify whether the arrangement is exempt from or subject to Section 409A of the Code 
• drafting cash and equity-based nonqualified deferred compensation plans
• revising nonqualified deferred compensation plans in a manner that complies with Sections 409A and 162(m) of the Code 
• advising on compliance with Sections 409A and 162(m) of the Code 
• correcting errors under Section 409A of the Code 
• advising on the tax consequences and administration issues relating to nonqualified deferred compensation awards, both cash and equity-based awards, including under Sections 162(m) and 280G of the Code 
• providing guidance on ERISA compliance for nonqualified deferred compensation plans, including top hat plans

Continuing Legal Education

Holland & Knight will make all reasonable efforts to seek CLE credit for this program in states with an MCLE requirement. In certain instances, some programs may not be awarded CLE credits because of content, delivery or jurisdictional restrictions. For New York attorneys: both transitional (newly admitted) and experienced New York attorneys who attend this program can qualify for New York CLE credit.