- Posts by William S. Carter
Member of the FirmEmployers turn to attorney Bill Carter to help them design, implement, and administer the employee benefits and executive compensation plans they need to attract and retain talent.
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As year-end approaches, it is an opportune time for companies to run an internal audit of their nonqualified deferred compensation plans to flag any potential violations of IRC Section 409A (“Section 409A”). Generally, the sooner a potential violation of Section 409A is identified, the more options a company has to correct the potential violation.
The guidance provided by the IRS regarding correcting 409A failures provides additional flexibility if errors are corrected within the year in which they occur, which means that after December 31, 2025, it could be more difficult and more costly to fix a 409A failure that occurred in 2025.
Recent Updates
- The Second Circuit Joins Fellow Circuits in Extending Limitations on Mandatory Arbitration Agreements
- Updating Your First Aid Kit: What Employers Need to Know About Opioid Antagonist Requirements in New York
- New DOL Guidance Reiterates Key Priorities for MHPAEA Enforcement
- Shh! Press the Button: New York State DOL Proposes Silent Response Button Rules for Retail Workplace Violence Prevention
- New Jersey’s Employer Response Portal: What You Need to Know