Inclusion in income of deferred compensation under nonqualified plans

What this document is

26 U.S.C. s. 409A: Inclusion in income of deferred compensation under nonqualified plans is a state statute published by U.S. Government Publishing Office (govinfo.gov). It is one of the documents that insurance license exam questions are written from, including life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 26 U.S.C. § 409A: Subsection (a)(3) (Acceleration of Benefits)

  “The requirements of this paragraph are met if the plan does not permit the acceleration of the time or schedule of any payment under the plan, except as provided in regulations by the Secretary.”

• 26 U.S.C. § 409A: Subsection (a)(1)(B)(i)(II) (Additional Tax on Previously Deferred Compensation)

  “If compensation is required to be included in gross income under subparagraph (A) for a taxable year, the tax imposed by this chapter for the taxable year shall be increased by the sum of - (I) the amount of interest determined under clause (ii), and (II) an amount equal to 20 percent of the...”

• 26 U.S.C. § 409A: Subsection (a)(1)(B)(ii) (Interest on Previously Deferred Compensation)

  “For purposes of clause (i), the interest determined under this clause for any taxable year is the amount of interest at the underpayment rate plus 1 percentage point on the underpayments that would have occurred had the deferred compensation been includible in gross income for the taxable year in...”

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• Fair Credit Reporting Act - 15 U.S.C. § 1681a (Definitions)State statute
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• 15 U.S.C. s. 1681c: FCRA requirements relating to obsolete information in consumer reportsState statute