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- Should deferred director fees in 2020 be reported on Form 1099-NEC in 2020? Assume the actual payout of these 2020 deferred director fees will occur in 2030.
Should deferred director fees in 2020 be reported on Form 1099-NEC in 2020? Assume the actual payout of these 2020 deferred director fees will occur in 2030.
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kennedyfamilync
Level 1
01-08-2021
07:01 PM
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1 Comment 1
itonewbie
Level 15
01-09-2021
06:40 AM
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When the actual payout will occur is not what you should be concerned about. Whether the deferral satisfies the requirements of §409A is what drives the reporting. Failing to make a payment when the deferral is no longer subject to a substantial risk of forfeiture is one such example.
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