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Digital Subscriptions > The Hedge Fund Journal > Issue 119 - January 2017 > Twilight of the Deferred Fees: Planning for 2017

Twilight of the Deferred Fees: Planning for 2017

In 2008, President George W. Bush signed into law the Emergency Economic Stabilization Act of 2008 (H.R. 1424), which, among other things, effectively ended the ability of most investment fund managers to defer fees they earned from the offshore funds they managed by virtue of the introduction of Section 457A into the US Internal Revenue Code of 1986, as amended (the “Code”). That legislation, however, grandfathered deferred fees earned for services rendered prior to 2009, provided that such amounts were included in the managers’ income no later than calendar year 2017.1

Eight years later, many managers still have significant amounts of pre-2009 deferred fees owing to them that are payable in the next 12-13 months. Below are certain tax and other considerations of which managers should take note as they plan for the inevitable end of the deferral era.

Section 409A

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Informing the Hedge Fund Community. With access to some of the industry’s biggest names and an astute and talented group of writers and contributors, The Hedge Fund Journal has established itself as a trusted source of information on the hedge fund industry.