The non-quasi-static (NQS) description of device behavior is useful in fast switching and high frequency circuit applications. Hence, it is necessary to develop a fast and accurate compact NQS model for both large-signal and small-signal simulations. A new relaxation-time-approximation based NQS MOSFET model, consistent between transient and small-signal simulations, has been developed for surface-potential-based MOSFET compact models. The new model is valid for all regions of operation and is compatible with, and at low frequencies recovers, the quasi-static (QS) description of the MOSFET. The model is implemented in two widely used circuit simulators and tested for speed and convergence. It is verified by comparison with technology computer aided design (TCAD) simulations and experimental data, and by application of a recently developed benchmark test for NQS MOSFET models. In addition, a new and simple technique to characterize NQS and gate resistance, Rgate, MOS model parameters from measured data has been presented. In the process of experimental model verification, the effects of bulk resistance on MOSFET characteristics is investigated both theoretically and experimentally to separate it from the NQS effects.