(Archived Content)
js-2180
The Treasury Department and IRS today issued clarifications to Notice 2005-1 today which provide additional guidance regarding transition rules under section 409A for nonqualified deferred compensation plans. An advance version of Notice 2005-1 was released to the public onDecember 20, 2004. Two clarifications are being added to the transition rules in the notice. The revised notice, incorporating these two clarifications, will be included as scheduled in Internal Revenue Bulletin 2005-2, to be published onJanuary 10, 2005.
A copy of the revised Notice 2005-1 and the accompanying IRS announcement are attached.
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