March 15th Deadline for Short Term Deferral Under 409A: Impact on Performance Share Plans
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March 15 for companies with calendar fiscal year--ends is the last day an amount can be paid for prior year compensation and still qualify as a short-term deferral (for definition see http://bit.ly/1hU4dP9) that is exempt from 409A. This date is important for performance share awards. This law firm blog/alert looks at question of what happens when March 15th falls on a weekend, an issue some of you may have been thinking about.
see: http://benefitsbryancave.com/409a-day-comes-a-day-early-this-year
Bruce Brumberg, Editor
http://www.myNQDC.com (site devoted to nonqualified deferred compensation plans)
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Bruce,
Thanks for this great reminder! I hope everyone is fully prepared to make any performance-related payments by this Friday, MARCH 14, 2015. (no you can't wait until Monday).
Please don't get caught in this potential trap.