Monthly LRA Update: September 2007

TAX DEVELOPMENTS

IRS Provides Transition Relief Related to 409A

On September 11, the IRS issued Notice 2007-78 announcing limited transition relief related to 409A final regulations. Essentially, while they did provide an extension to 12/31/2008 to adopt documents that comply with 409A, plans must still operate under the final regulations beginning January 1, 2008.