• Nonqualified Deferred Compensation
  • February 4, 2005
  • Law Firm: Nixon Peabody LLP - New York Office
  • New Code Section 409A, a creature of the American Jobs Creation Act of 2004 (the "AJCA"), requires the maintenance of a new type of plan -- call it the qualified, nonqualified deferred compensation plan. Although the IRS has promised a stream of guidance over the course of 2005, its initial guidance (IRS Notice 2005-1) along with Section 409A, already provides a fairly complete picture of the requirements and the actions you need to take.