IRS delays reporting requirement for Section 409A deferrals

The American Jobs Creation Act of 2004, which added Section 409A, also amended the Code to require that employers report nonqualified deferred compensation plan deferrals on Forms W-2 and 1099-Misc for employees and nonemployees, respectively. The IRS subsequently waived the reporting requirement through 2007. Now, in IRS Notice 2008-115, the IRS has stated that employers [...]

IRS delays Section 403(b) written plan document requirement

403(b) plan sponsors who haven’t yet adopted a written plan document that complies with the IRS final 403(b) regs–which had been required by December 31, 2008– can breathe a sigh of relief. The IRS has issued Notice 2009-3 which extends the deadline for adopting a written plan document that complies with the final regs until [...]