04-EA-33: IRS: Guidance for New Section 409A of the Internal Revenue Code (Deferred Compensation Plans)

The Internal Revenue Service has issued Notice 2005-1, guidance relative to section 409A of the Internal Revenue Code (IRC) as added by the American Jobs Creation Act (AJCA) of 2004, Pub. L. No. 108-357, 118 Stat. 1418. New section 409A provides that all amounts deferred under a nonqualified deferred compensation plan for all taxable years are currently includible in gross income to the extent not subject to a substantial risk of forfeiture and not previously included in gross income, unless certain requirements are met.

Already a member? Log in

NAFCU Members Get More

This page contains member-only content.

Membership is open to all federally insured credit unions in the United States, both federally and state-chartered. Members enjoy:

  • Hundreds of articles and resources
  • Personalized compliance assistance
  • Discounts on top-rated education opportunities
  • Member-only benefits and savings

Interested? Schedule a Customized Membership Webinar

If you are already logged in and believe you should have access to member-only content, please contact us for assistance at info@nafcu.org.