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Frequently Asked Question
Do I have to pay federal unemployment tax (FUTA) on my NQDC distributions?

The federal tax known as FUTA helps to fund unemployment benefits. While the amounts you defer and any company contributions are considered…

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More FAQs
NEW! Can personal creditors reach or garnish my nonqualified deferred compensation distributions?
What is an in-service distribution?
Is there a difference between triggering a distribution and accelerating it?
If I am not certain about when I should take my distributions, when should I elect to receive them?
UPDATED! What if I have a financial or medical hardship? Can I get a distribution?
Can I get a distribution in stock?
Can my distribution be linked to a formula?
Can I elect a different timing for just a part of my already scheduled future distributions, or must my subsequent deferrals all be treated the same?
Can I get a distribution at any time and just take a “haircut” on it by paying a penalty to my company, or is that only for grandfathered plans?
Can I accelerate my distributions to withdraw the money earlier?
If the distribution is not made at the exact time specified in the plan, how much earlier or later than the scheduled distribution date can I receive the payment without being penalized?
Can I change the timing or form for just part of my scheduled distribution, or even just one installment payment?
Are the rules different if I change the timing of an installment distribution?
How do I change the timing or form of my distribution?
UPDATES! At distribution, will I receive a lump sum of cash, or will I get installment payments over a number of years?
Do I need to reach a certain age to receive distributions? Is there a particular age when I must start receiving distributions?
Can I get distributions of my deferred compensation whenever I want?
Are the taxes I owe at distribution based on the value of the amount I deferred at the start or on the value of the distribution I receive?
Do I have to pay federal unemployment tax (FUTA) on my NQDC distributions?
Will I owe any income taxes when I elect to participate, when my income is deferred, or when I receive distributions?
Can I easily postpone or accelerate distributions?
Do I need to defer all of the distributions to the same year?
Do I need to elect the percentage I defer, the year when it will be distributed, and the form of payment when it is distributed?

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