In 2010, the Internal Revenue Service published Notice 2010-6 in which it indicated that certain types of common release provisions found in employment and other agreements violated Section 409A, which governs deferred compensation. Employers, employees and others who are parties to agreements with noncompliant release provisions described in Notice 2010-6 must amend these agreements no later than December 31, 2012 in order to take advantage of the transition relief provided in the IRS guidance.
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