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IRS Proposes Restatement of Required Minimum Distribution Regulations to Incorporate SECURE Act Changes

EBIA  

EBIA  

Required Minimum Distributions, 26 CFR Parts 1 and 54, 87 Fed. Reg. __ (Feb. 24, 2022)

Available at https://www.federalregister.gov/public-inspection/2022-02522/required-minimum-distributions

As we were preparing this week’s edition of the EBIA Weekly, the IRS released proposed regulations that would restate the required minimum distribution (RMD) rules to incorporate changes made by the SECURE Act (see our Checkpoint article). Those changes increased the age for determining an individual’s required beginning date to age 72 from 70-1/2 (for individuals attaining age 70-1/2 after 2019), and significantly altered the timing requirements for RMDs made to beneficiaries after a participant’s death. The proposed regulations would be effective for RMDs for 2022 and later years, but operating in accordance with them will be considered a reasonable, good faith interpretation of the SECURE Act changes for 2021 RMDs. We will cover these proposed regulations (slated for publication in the Federal Register today, February 24) in next week’s EBIA Weekly. Meanwhile, for more information, see EBIA’s 401(k) Plans manual at Sections XII.I (“Required Minimum Distributions”) and XII.C.7 (“When Is Distribution Made Following Death?”).

Contributing Editors: EBIA Staff.

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