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IRS proposes comprehensive cafeteria plan regulations

Sutherland Asbill & Brennan LLP
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USA
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August 7 2007

Since Internal Revenue Code (“Code”) section 125 was enacted and cafeteria plans were first made available in 1978, the Internal Revenue Service has issued a grab bag of proposed regulations under Code section 125 but issued final regulations only for rules governing mid-year election changes (Treas. Reg. 1.125-4) and coordination of family medical leave with cafeteria plan coverage (Treas. Reg. 1.125-3

DOL issues 403(b) guidance

Sutherland Asbill & Brennan LLP
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USA
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July 25 2007

In conjunction with the publication of final tax regulations under Section 403(b), the Labor Department has issued a field assistance bulletin considering the interaction of ERISA with these final regulations

IRS to publish Section 457 guidance

Sutherland Asbill & Brennan LLP
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USA
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July 24 2007

The Internal Revenue Service and the Treasury have announced their intention to publish guidance under Section 457 applicable to nonqualified deferred compensation plans of state and local governments and tax-exempt entities concerning the definitions of a bona fide severance pay plan under Section 457(e)(11) and substantial risk of forfeiture under Section 457(f)(1)(B

IRS provides limited relief and additional guidance under Code Section 409A - full analysis

Sutherland Asbill & Brennan LLP
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USA
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September 14 2007

A Legal Alert that we sent out on September 11, 2007 contained a high level summary of Notice 2007-78 (the "Notice"), which provides limited additional relief and guidance with respect to nonqualified deferred compensation plans under section 409A of the Internal Revenue Code

IRS provides limited additional relief under IRC 409A

Sutherland Asbill & Brennan LLP
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USA
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September 11 2007

On September 10, 2007, Treasury and the IRS released Notice 2007-78 (the "Notice"), providing additional time - until December 31, 2008 - to adopt amendments that document compliance with the requirements of Internal Revenue Code section 409A for nonqualified deferred compensation plans

IRS rules on Section 419 funds utilizing cash value life insurance

Sutherland Asbill & Brennan LLP
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USA
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October 22 2007

On October 17, 2007, the Internal Revenue Service issued a revenue ruling taking the position that an employer’s contribution to a welfare benefit fund may not be deductible, in whole or in part, under section 419 to the extent the fund pays premiums on cash value life insurance policies

IRS Notice 2007-86 provides general extension of 409A transition relief through 2008

Sutherland Asbill & Brennan LLP
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USA
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October 23 2007

In response to comments from the ABA Tax Section, benefits industry organizations, and law firms that the limited Internal Revenue Code section 409A transition relief for 2008 provided in September was inadequate, the IRS yesterday issued Notice 2007-86 (the “Notice”

Section 204(h) and lump sum guidance issued for defined benefit plans

Sutherland Asbill & Brennan LLP
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USA
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November 7 2007

On November 6, 2007, the Internal Revenue Service addressed (through a posting on its website) whether an ERISA section 204(h) notice is required in 2007 for certain defined benefit plan amendments required by the Pension Protection Act of 2006

Automatic contribution arrangements proposed regulations

Sutherland Asbill & Brennan LLP
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USA
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November 9 2007

On November 8, 2007, the Internal Revenue Service released proposed regulations (the “Proposed Regulations”) relating to automatic contribution arrangements

IRS announces Section 409A compliance program for discounted stock options

Sutherland Asbill & Brennan LLP
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USA
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February 12 2007

In Announcement 2007-18, the Internal Revenue Service (IRS) introduced a compliance resolution program that will permit employers to pay the additional taxes employees have incurred under section 409A of the Internal Revenue Code (the Code) as a result of exercising discounted stock options and stock appreciation rights during 2006