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IRS Postpones Nonqualified Plan Document Compliance

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The Internal Revenue Service will be giving employers and individuals until Dec. 31, 2008, to comply with new document rules related to Section 409A of the Internal Revenue Code.

The 1-year extension, described in IRS Notice 2007-78, gives employers and other taxpayers more time to comply with final regulations concerning deferral elections and payment timing under Section 409A, which was created by the Pension Protection Act of 2006, IRS officials say.