Structuring Employee Severance Arrangements
Benjamin Panter, Member, McDonald Hopkins, will be speaking in an upcoming Strafford live webinar, "Structuring Employee Severance Arrangements: Revisiting Code Section 409A and its Impact on Deferred Compensation" scheduled for Tuesday, July 26, 1:00 p.m. - 2:30 p.m. EDT.
The IRS has pursued a targeted Section 409A audit initiative project since 2014 aimed at determining companies' compliance with 409A's restrictions on the deferral of compensation. The agency is focusing on compliance with initial deferral election requirements, subsequent deferral election requirements, and distributions of deferred compensation, including the six-month delay rule.
Most severance arrangements fit within the purview of Section 409A and must be properly structured to avoid the adverse consequences imposed by Section 409A. Failure to comply with 409A's strict rules can result in severe penalties, including a 20 percent excise tax and immediate taxes on vested deferred amounts.
Our panel will provide counsel with guidance on structuring employee severance or separation agreements to comply with Section 409A's restrictions on deferred compensation. The panel will discuss best practices for performing compliance self-audits and taking corrective action to remedy substantive or documentary failures.
After the presentations, we will engage in a live question and answer session.
For more information or to register:
Call 1-800-926-7926 ext. 10
Ask for Structuring Employee Severance Arrangements on 7/26/2016
Mention code: ZDFCT
- Does 409A impact all severance plans and agreements?
- How does 409A impact the drafting of severance plans and agreements?
- What are some best practices for complying with 409A regulations as they relate to severance plans and agreements?