The IRS has issued new Proposed Regulations under Section 409A regarding nonqualified deferred compensation arrangements. These regulations can be relied upon.
Document Excerpt
This document contains Proposed regulations that would clarify or modify certain specific provisions of the final regulations under section 409A (TD 9321, 72 FR 19234). This document also withdraws a specific provision of the notice of proposed rulemaking (REG-148326-05) published in the Federal Register on December 8, 2008 (73 FR 74380) regarding the calculation of amounts includible in income under section 409A(a)(1) and replaces that provision with revised proposed regulations. These proposed regulations would affect participants, beneficiaries, sponsors, and administrators of nonqualified deferred compensation plans.
Link
https://www.federalregister.gov/articles/2016/06/22/2016-14331/application-of-section-409a-to-nonqualified-deferred-compensation-plans