Internal Revenue Bulletin: 2010-3 |
January 19, 2010 |
Table of Contents
- Highlights of This Issue
- Preface
- Part I. Rulings and Decisions Under the Internal Revenue Code of 1986
- Part III. Administrative, Procedural, and Miscellaneous
- Notice 2010-6
- I. PURPOSE
- II. BACKGROUND
- III. ELIGIBILITY REQUIREMENTS AND EFFECT
OF CORRECTION
- A. In General
- B. Correction of Plans Containing Substantially Similar Document Failures
- C. Relief not Available to Service Providers and Certain Service Recipients Under Examination
- D. Relief not Available for Intentional Failures or Listed Transactions
- E. Amounts Included in Income as a Condition of Correction
- F. Date of Correction; Income Inclusion Upon Correction of Multiple Failures
- G. Linked Plans and Stock Rights not Eligible for Relief
- H. New or Modified Payment Events Required as a Condition of Correction
- I. Effect of Correction
- J. References to the Internal Revenue Code; Certain Terms
- IV. APPLICATION OF § 409A(a) TO CERTAIN AMBIGUOUS PLAN TERMS
- V. CORRECTION OF IMPERMISSIBLE DEFINITIONS OF OTHERWISE PERMISSIBLE PAYMENT EVENTS
- VI. CORRECTION OF IMPERMISSIBLE PAYMENT PERIODS FOLLOWING A PERMISSIBLE PAYMENT EVENT
- VII. CORRECTION OF CERTAIN IMPERMISSIBLE
PAYMENT EVENTS AND PAYMENT SCHEDULES
- A. Plans with Permissible and Impermissible Payment Events under § 409A
- 1. Eligibility
- 2. Correction
- B. Plans with Only Impermissible Payment Events under § 409A
- 1. Eligibility
- 2. Correction
- C. Certain Impermissible Alternative Payment Schedules
- 1. Eligibility
- 2. Correction
- D. Impermissible Service Provider or Service Recipient Discretion with Respect to a Payment Schedule Following a Permissible Payment Event (Including Subsequent Deferral Elections)
- 1. Eligibility
- 2. Correction
- E. Impermissible Service Recipient Discretion to Accelerate Payment Events
- 1. Eligibility
- 2. Correction
- F. Impermissible Reimbursement or In-Kind Benefit Provisions
- 1. Eligibility
- 2. Correction
- G. Examples
- VIII. CORRECTION OF FAILURE TO INCLUDE SIX-MONTH DELAY OF PAYMENT FOR SPECIFIED EMPLOYEES
- IX. CORRECTION OF PROVISIONS PROVIDING FOR IMPERMISSIBLE INITIAL DEFERRAL ELECTIONS
- X. AMENDMENT PERIOD FOLLOWING A SERVICE RECIPIENT’S INITIAL ADOPTION OF A PLAN
- XI. TRANSITION RELIEF
- A. Correction of Document Failures Described in this Notice
- 1. Relief for Corrections Made on or Before December 31, 2010
- 2. Examples
- B. Correction of Impermissible Provisions Linking Nonqualified Deferred Compensation Plans
- 1. Relief for Corrections Made on or Before December 31, 2011
- 2. Example
- C. Correction of Payment Schedules Determined by the Timing of Payments Received by the Service Recipient
- 1. Relief for Corrections Made on or Before December 31, 2011
- 2. Example
- D. Service Recipients Under Examination for Returns Covering Periods Beginning on or Before December 31, 2011
- XII. INFORMATION AND REPORTING REQUIREMENTS
- A. Information and Reporting Required for Correction of a Document Failure
- B. Attachment to Service Recipient Tax Return for Failures Described in §§ V through XI of this Notice
- C. Information to be Provided to Service Provider for Failures Described in §§ V through XI of this Notice
- D. Attachment to Service Provider Tax Return for Failures Described in §§ V through XI of this Notice
- XIII. MODIFICATIONS TO NOTICE 2008-113
AND NOTICE 2008-115
- A. The following sections are added as §§ III.K and III.L of Notice 2008-113:
- “K. Required Repayments by the Service Provider
- L. Determination of Amount Erroneously Paid or Amount Erroneously Deferred and the Date an Amount was Otherwise Payable
- B. The following section replaces section V.D.2(a) of Notice 2008-113:
- C. Modification of Notice 2008-115
- XIV. EFFECT ON OTHER DOCUMENTS
- XV. REQUEST FOR COMMENTS
- XVI. PAPERWORK REDUCTION ACT
- XVII. DRAFTING INFORMATION
- Notice 2010-7
- Notice 2010-8
- Notice 2010-9
- Notice 2010-10
- Rev. Proc. 2010-10
- Rev. Proc. 2010-12
- Notice 2010-6
- Definition of Terms and Abbreviations
- Numerical Finding List
- Effect of Current Actions on Previously Published Items
- How to get the Internal Revenue Bulletin
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