Internal Revenue Bulletin:  2007-32 

August 6, 2007 

EMPLOYEE PLANS


T.D. 9331 T.D. 9331

Final regulations amend section 408(a) of the Code with regard to the requirements under section 408(a) for non-bank trustees for deemed IRAs. The regulations under section 408(a) provide that the Commissioner may, in his discretion, allow governmental entities to act as qualified nonbank trustees for deemed IRAs which are part of the entities’ qualified employer plan within the meaning of section 408(q).

Notice 2007-62 Notice 2007-62

This notice announces the intent of the Treasury Department and the Service to issue guidance under section 457 of the Code, which applies 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 a substantial risk of forfeiture under section 457(f)(1)(B). This notice also describes the guidance that the Treasury and the Service anticipate issuing and requests comments on the issues intended to be addressed by such guidance.

Announcement 2007-68 Announcement 2007-68

This document contains numerous corrections to the preamble of final regulations (T.D. 9321, 2007-19 I.R.B. 1123) setting forth guidance on the application of section 409A to nonqualified compensation plans.


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