409A and Deferred Compensation CLE

The American Bar Association Section of Real Property, Probate and Trust Law and the ABA Center for Continuing Legal Education is sponsoring a teleconference entitled Ten Items Estate Planners Need to Know About 409A and Deferred Compensation on June 5, 2007.

Here is a description of this program:

On April 10, 2007, the IRS issued final Internal Revenue Code Section 409A regulations relating to nonqualified deferred compensation.  Failure to comply with the section 409A requirements could lead to immediate taxation as well as a 20% penalty.

Attend this teleconference to learn the ten items our expert panel believes every estate planner needs to know about section 409A. This program will focus on the impact of the final regulations on nonqualified deferred compensation and what needs to be done in order to achieve compliance before December 31, 2007.

This program should be of particular interest to estate planners who advise owners of closely-held businesses and executives of publicly-traded companies.

Topics that will be discussed include:

• What is nonqualified deferred compensation?
• Aggregation rules and what to watch out for
• Using the short term deferral exception
• Separation pay exclusion rules and how they work
• The complicated aspects of distribution after “separation from service”
• Initial deferral and re-deferral under the new rules
• The extent that pre-2005 plans are grandfathered
• What should I do now before December 31, 2007?