Reminder: Transition Relief for Code Section 409A Deferred Compensation Arrangements Expires on December 31, 2008
As a reminder, all nonqualified deferred compensation arrangements must be brought into "documentary compliance" with Section 409A of the Internal Revenue Code by the end of 2008 since the current "transition relief" rules under Section 409A are set to expire at that time. Additionally, clients who want to take advantage of the greater flexibility afforded under the transition relief rules to amend existing deferral arrangements (e.g., with respect to the timing of deferred payments) must do so before year-end.