Monday, July 11, 2022

The IRS Has Released Proposed Required Minimum Distribution (RMD) Regulations

On February 23, 2022, the IRS released proposed guidance revising existing RMD and related regulations—guidance that was brought about by the SECURE (Setting Every Community Up for Retirement Enhancement) Act of 2019. The proposed regulations include provisions relating to RMDs, rollovers, and to penalty taxes that apply when RMDs are not taken properly. As the IRS examines feedback to their proposed guidelines, it may take several months for the IRS to release final regulations. In the meantime, you can read more about the proposed regulations.