A recent Memorandum issued by the Office of Chief Counsel within the Internal Revenue Service underscores the importance of complying with Section 409A of the Internal Revenue Code. The Memorandum takes the position that Section 409A penalties may apply even when a non-complying provision in a deferred compensation arrangement is corrected before the amounts subject to deferral become substantially vested.View full memo, The Importance of Fixing Section 409A Compliance Failures Sooner Rather Than Later
