IRC Section 409A Guide: Correcting Deferred Compensation Plan Violations

CONCORD, NH — Attorney Dodd Griffith, a business lawyer with a background in corporate, tax, securities and real estate law at Gallagher, Callahan and Gartrell, presented recently at the Annual Tax Forum sponsored by the New Hampshire Society of CPAs and the New Hampshire Bar Association on correcting deferred compensation plan violations.

He covered the types of deferred compensation that are subject to the IRC 409A rules, common errors of noncompliance, and the penalties for failing to comply. He reviewed the IRC 409A self-correction program guidance offered by the IRS, and the current audit guidelines. Griffith along with Kenneth Wolfe, a CPA with Nathan Wechsler & Co., have co-authored an in-depth, 48-page guide to Section 409A and the 409A Rules. The guide can be downloaded at the following link: Correcting Operational and Document Failures to Comply with IRC Section 409A.

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