Page:United States Statutes at Large Volume 122.djvu/3955

 12 2 STA T .39 32 PUBLIC LA W 11 0– 3 4 3 —O CT. 3 , 200 8amountsdef e r red whic h are attri b utab l etoser v ices p erformed after D ecember 31,20 0 8.( 2 )AP P LICAT I ON TO EX I S TIN GD E F E R RALS. —I n the case of an y amount deferred to which the amendments made by this section do not apply solely by reason of the fact that the amount is attributable to services performed before J anuary 1, 200 9, tothee x tent such amount is not includible in g ross income in a taxable year beginning before 2018, such amounts shall be includible in gross income in the later of— (A) the last taxable year beginning before 2018, or ( B ) the taxable year in which there is no substantial ris k of forfeiture of the rights to such compensation (deter - mined in the same manner as determined for purposes of section 457 A of the Internal R evenue C ode of 198 6, as added by this section). (3) ACCELERATED PA YM ENTS.— N o later than 120 days after the date of the enactment of this Act, the S ecretary shall issue guidance providing a limited period of time during which a non q ualified deferred compensation arrangement attributable to services performed on or before December 31, 2008, may, without violating the requirements of section 409A(a) of the Internal Revenue Code of 1986, be amended to conform the date of distribution to the date the amounts are required to be included in income. (4) CERTAIN B AC K -TO-BACK ARRANGEMENTS.—If the tax- payer is also a service recipient and maintains one or more nonqualified deferred compensation arrangements for its service providers under which any amount is attributable to services performed on or before December 31, 2008, the guid- ance issued under paragraph (4) shall permit such arrange- ments to be amended to conform the dates of distribution under such arrangement to the date amounts are required to be included in the income of such taxpayer under this sub- section. (5) ACCELERATED PAYMENT NOT TREATED AS MATERIAL MODI- FICATION.—Any amendment to a nonqualified deferred com- pensation arrangement made pursuant to paragraph (4) or (5) shall not be treated as a material modification of the Deadlin e .Gu idan c e.

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