We revisit the nature of the FIR/Radio correlation by means of the most recent models for star forming galaxies. We model the IR emission with our population synthesis code, GRASIL (Silva et al. 1998). As for the radio emission, we revisit the simple model of Condon & Yin (1990). We find that a tightFIR/Radio correlation is natural when the synchrotron mechanism dominates over the inverse Compton, and the electrons cooling time is shorter than the fading time of the supernova rate. Observations indicate that both these conditions are met in star forming galaxies. However since the radio non thermal emission is delayed, deviations are expected both in the early phases of a starburst, when the radio thermal component dominates, and in the post-starburst phase, when the bulk of the NT component originates from less massive stars. This delay allows the analysis of obscured starbursts with a time resolution of a few tens of Myrs, unreachable with other star formation indicators. We suggest to complement the analysis of the deviations from the FIR/Radio correlation with the radio slope to obtain characteristic parameters of the burst. The analysis of a sample of compact ULIRGs shows that they are intense but transient starbursts, to which one should not apply usual SF indicators devised for constant SF rates. We also discuss the possibility of using the q- radio slope diagram to asses the presence of obscured AGN. A firm prediction of the models is an apparent radio excess during the post-starburst phase, which seems to be typical of a class of star forming galaxies in rich cluster cores. We discuss how deviations from the correlation, due to the evolutionary status of the starburst, affect the technique of photometric redshift determination widely used for high-z sources.
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