Correcting Operational and Document Failures to Comply ...

Correcting Operational and Document Failures to Comply with IRC Section 409a by Dodd S. Griffith, Esq., Gallagher, Callahan & Gartrell, PC and Kenneth C. Wolfe, CPA, Nathan Wechsler & Co., PA November, 2012 Contents Correcting Operational and Document Failures to Comply with IRC Section 3 Overview .. 3 What is the Basic Purpose of Section 409a ? .. 4 In a Nutshell, How does Section 409a Work? .. 5 What compensation is Covered by Section 409a ? .. 9 What compensation is Exempt from Section 409a ? .. 10 Who is Impacted by a failure to Comply with Section 409a ? .. 13 What Current IRS Audit Initiatives Focus on Compliance with Section 409a ? .. 14 What Correction Programs are Available for Noncompliance with 409a ? .. 19 Correction Programs for Operational Failures .. 19 Overview .. 19 What are Operational Failures ?.

5 are quite complex, the basic philosophy behind these rules is fairly simple. The 409A Rules are designed to make it virtually impossible for a recipient of deferred compensation – after the date

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  Rules, Operational, Document, Failure, Compensation, Correcting, Deferred, Deferred compensation, 409a, Correcting operational and document failures, 409a rules

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