Updates on expected §457(f) regulations

We presented a summary of the regulations with Integrated Healthcare Strategies. You can view the webinar on YouTube.

Timing updates from the IRS

  • May 2017 - Ilya Enkishev, an IRS attorney, said it would be "incredibly optimistic" to think that the final regulations will be out this year.

  • June 2016 - The Regulations have been released! You can find the updated 457(f) regulations here. We will post highlights over the next hours and days.

  • May 2016 - Carol Weiser: 457(f) guidance publication is “weeks, not months” away.

  • November 2015 - Robert Neis: 457(f) and 409A regulations are "very, very close," adding that they should be out by the end of this calendar year or early next year.

  • September 2015 - Stephen Tackney: The 457(f) regulations and Section 409A technical corrections are in the clearance process and just await signatures before they can be released.

  • May 2015 - Robert Neis: Neis said he believes the section 457(f) regs will be released this year; an IRS official recently said the regs will be released before summer.

  • January 2015 - Robert Neis: 457(f) proposed regulations are said to be the next guideline priority, hopefully published in time for May ABA meeting.

  • November 2014 - Robert Neis: "While we do intend to finalize these 409A income inclusion regs in the near future, we do need to put out these 457(f) regs in proposed form first and get comments back on those to make sure that when we finalize everything together they all work together," Neis said. Finalizing the 409A income inclusion regs is not something Treasury will accomplish in the next couple of months, Neis said.

  • October 2014 - Robert Neis: 457(f) regulations are expected to be published in early 2015.

  • October 2014 - Stephen Tackney: "We are very hopeful that if not this year, then at least this business plan year . . . we will get out [proposed section] 457(f) regs along with some potential tweaks in [section] 409A to coordinate with that."

  • September 2014 - Stephen Tackney: "It has been far along for a long time and it's going to continue to move forward at a slow pace, which is unfortunate."

  • September 2014 - Stephen Tackney: 457(f) regulations are on IRS’s internal schedule for this business plan year, which ends June 30, 2015. Says he’s hopeful that the guidance will come out this year, but he’s been hopeful before.

  • June 2014 - An IRS representative confirmed that the 457(f) regulations “remain a top priority for the IRS.”

  • February 2014 - An IRS attorney who spoke last fall on the 457(f) regulations says that the IRS “continues to push forward” on the 457(f) regulations and that other regulations projects are “wrapping up.”

  • November 2013 - Robert Neis: Due to personnel turnover at the Treasury, 457(f) regulations are delayed and could be expected sometime in early- to mid-2014.

  • September 2013 - Robert Neis (Treasury Benefits tax counsel): two fairly high profile projects have been removed from the list to focus on completing major projects, including 457(f), 409A, and 162(m).

  • September 2012 - Cheryl Press: IRS continues to work on 457(f) guidance, no discrete projects on 457(b).

  • December 2011 - Stephen Tackney: 457(f) regulations will clean up 409A.

  • June 2011 - Cheryl Press: Rumored September release is wishful thinking, their office is busy implementing healthcare reform.

  • October 2010 - Treasury dept attorney speaking at CLE event: 457(b) entered final clearing process so long ago he forgot what’s in them. And 409A may never get published because they’re understaffed (strongly implying that 457(f) is suffering a similar fate).

  • May 2010 - Cheryl Press: Substantially done, but proceeding at a governmental pace.

  • May 2010 - Stephen Tackney (IRS special counsel to the division counsel, IRS Tax Exempt and Government Entities Division): government is working on 4 projects at the moment (lists them; 457(f) isn’t one of them)

  • February 2010 - Helen Morrison (Deputy Benefits Tax Counsel, US Department of Treasury): 457(f) regulations are not as far along as Section 125 regulations, which are almost out the door, but still very far along and would be surprised if not out by the end of the year.

  • October 2009 - Bob Architect: still months from publication in proposed form, may be years from being finalized, and would be prospective only.

  • May 2009 - Cheryl Press: regulations are “really pretty far along,” “we hope to get them out as soon as possible.”

  • January 2009 - White House released memo freezing publication of new regulations. Federal Policy Group believes 457(f) is noncontroversial and any delay would be minimal.

  • December 2008 - Cheryl Press says issuance date might be slipping; Bob Architect (IRS senior tax law specilaist) says not until next spring.

  • November 2008 - Cheryl Press, IRS senior legal counsel: Proposed 457(f) regulations are in final stages, but date of issuance is still unknown. Require 20 signatures before publication, so there isn't a lot of predicatibility about when final approval will occur. Once issued, new regulations will go through IRS notice and comment period.

  • September 2008 - IRS agent: The target publication date for 457(f) is late December 2008.

  • August 2007 - Initial announcement from IRS Notice 2007-62

Our comments