Treasury And IRS Grant Additional Transitional Relief Under Section 409A

Originally published 23 October, 2007

This article provides an update from the September 11, 2007 Alert by Chadbourne & Parke LLP. Please click on the Previous Page link at the end of this article to read this.

Yesterday, in response to a number of requests by practitioners and other interested parties, including a letter submitted by Chadbourne & Parke LLP and nearly 100 other law firms, the Treasury Department and Internal Revenue Service extended the deadline for complying with Internal Revenue Code Section 409A to the end of 2008. This additional relief is set forth in Notice 2007-86. This additional relief supersedes much of the limited relief issued by the Treasury and IRS in September 2007 in Notice 2007-28.