IRS Extends Section 409A Compliance Deadline to December 31, 2008

In Notice 2007-86 issued on October 22 by the IRS, and already enthusiastically applauded by employers, plan administrators, and advisors, the IRS has fully extended—from December 31, 2007 to December 31, 2008—the compliance due date under Section 409A of the Internal Revenue Code of 1986, as amended (Section 409A). In most material respects, Notice 2007-86 supersedes recently issued Notice 2007-78, which had provided an extension only for documentary compliance.

For the full story, please view the PDF.