IRS Notice 2010-06 - Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a)

Part III --- Administrative, Miscellaneous, and Procedural

IRS Notice 2010-06 – Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a)

This notice provides rules governing the taxation of nonqualified deferred compensation plans. Section 409A of the Code requires that a nonqualified deferred compensation plan meet certain plan document requirements, and that the plan be operated in compliance with the plan document. Notice 2010-6 permits taxpayers to correct certain failures of a nonqualified deferred compensation plan to comply with the plan document requirements of section 409A, or in certain circumstances, to limit the amount includible in income and additional taxes under section 409A as a result of a plan document failure. Notices 2008-113 and 2008-115 modified.

Related Links:

• IRS Notice 2010-06, 2010-03 I.R.B. - Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a) (January 18, 2010) [HTML]
• IRS Notice 2010-06, 2010-03 I.R.B. - Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a) (January 18, 2010) [PDF]
• 2010-03 I.R.B. (January 18, 2010)
• IRS Notice 2008-113 – Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a) in Operation
• IRS Notice 2008-115 – Reporting and Wage Withholding Under Internal Revenue Code § 409A
• IRC Section 409A Nonqualified Deferred Compensation (NQDC) Plan Regulations