Proposed 457(f) Regulations: Opportunities and Challenges

Since 2007, when the IRS issued proposed guidance in the form of Notice 2007-62, not-for-profit organizations have been anxiously anticipating the scope of changes that may come with the issuance of new Code Section 457(f) regulations. Because some large not-for-profit organizations have significant value in these nonqualified deferred compensation and severance plans, impact of the regulations on these arrangements needs to be understood to appropriately determine next steps. With the new Code Section 457(f) regulations, it has become increasingly important for professionals in this area to understand options and opportunities available to them as well as the taxation and reporting impact on executives. These key areas will be addressed:

• Short-Term Deferral Exceptions
• Elective Deferral Features
• Rolling Risks of Forfeiture
• Noncompetes as a Substantial Risk of Forfeiture
• Interplay Between 409A and 457(f)
• Arrangements to Monitor
• Next Steps

CLE credit for the live presentation of this program is pending in the following states: California, Illinois and New York. A Uniform Certificate of Attendance will be made available to participants requesting CLE credit in all other states. Credit shall be awarded only for attendance of the entire webcast; no partial credit shall be awarded for attending a portion of the webcast. Please note that in accordance with applicable state MCLE rules regarding attendance validation, each attendee seeking credit must log in to the webcast individually. Credit will not be granted for multiple attendees using one log in. Please be advised that CLE credit will not be approved for on demand/recorded viewings of this program in the states listed above. Attendees seeking credit in other states should consult their state CLE accrediting agency to determine whether self-study credit can be earned for on demand/recorded viewing of this program.

For more information, please contact Erin Nelson.