• Worth the Wait? The Final Section 409A Regulations
  • June 18, 2007 | Authors: Laraine S. Rothenberg; Amy L. Blackman; Mindy P. Meyers
  • Law Firm: Fried, Frank, Harris, Shriver & Jacobson LLP - New York Office
  • The Treasury Department has issued final regulations under Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"). Section 409A, entitled "Inclusion in Gross Income of Deferred Compensation under Nonqualified Deferred Compensation Plans," was added to the Code in October 2004 as part of the American Jobs Creation Act of 2004. These final regulations come after proposed regulations issued on September 29, 2005 as well as a succession of interim guidance. After extensions and numerous transition rules, companies now must be in documentary compliance with Section 409A by December 31, 2007.