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ARTICLE · 02 FEBRUARY 2011

Recent Developments In Employee Benefits And Executive Compensation

Blank Rome LLP
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A broad range of plans and agreements, including traditional deferred compensation plans, equity compensation, bonus plans, severance plans, change in control agreements and employment agreements could provide for "deferred compensation" as defined in Section 409A of the Internal Revenue Code and be subject to the highly technical requirements of Section 409A.

United StatesEmployment and HR
Employment, Benefits And Labor Practice Group
Employment, Benefits And Labor Practice Group

This newsletter briefly discusses several recent developments in employee benefits and executive compensation that may be of interest to our clients. For more details on any item reported herein, please contact any member of Blank Rome's Employee Benefits and Executive Compensation Group.

IRS Expands Code Section 409A Document Correction Program

A broad range of plans and agreements, including traditional deferred compensation plans, equity compensation, bonus plans, severance plans, change in control agreements and employment agreements could provide for "deferred compensation" as defined in Section 409A of the Internal Revenue Code and be subject to the highly technical requirements of Section 409A. If a plan fails to comply in form or operation with these requirements, the employee (an independent contractor could be subject to Section 409A also) is required to report the "deferred compensation" payable under the plan for federal income tax purposes in the year

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