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kennedyfamilync
Level 1
January 9, 2021
Question

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.

  • January 9, 2021
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1 reply

itonewbie
itonewbie
Level 15
January 9, 2021

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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