Lower RMDs are on the way - Spidell

Lower RMDs are on the way

On November 8, 2019, the IRS issued new proposed regulations under IRC §401(a)(9), which provides rules regarding required minimum distributions (RMDs) from qualified retirement plans. The proposed regulations provide for longer life expectancies, thus reducing taxpayers’ annual RMDs. The new life expectancy tables will take effect for RMDs required on or after January 1, 2021. We will have more detailed information on these new regulations in the January 2020 issue of Spidell’s Federal Taxletter®.