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 Lp1h 2017

Lp1h 2017-2025 Form

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[Music] so I mentioned that section 49a applies to any non-qualified Deferred Compensation Plan which in very general terms is any plan or Arrangement where someone has a vested right to compensation in one year but may not be paid until a future year uh but excluding payments from tax qualified retirement plans like a 401k plan and certain other arrangements so when I use the term deferred compensation here just keep in mind I mean non-qualified deferred compensation so for example if an employee has a vested right to a bonus payment this year but wants to instead have it paid in the future instead of right now in order to reduce the tax impact then section 409a would likely come into play and 409a provides the rules as to how you can defer payment of compensation again outside of tax qualified plans and be taxed when you actually receive the payment rather than when you have the vested right to payment we'll discuss what exactly we mean by this concept the vesting uh in a lit

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