Retirement Plans Newsletter
BULLETINMarch 7, 2023
[Official Guidance]
"his notice provides guidance to financial institutions on reporting required minimum distributions (RMDs) for 2023 after the amendment to section 401(a)(9) of the Internal Revenue Code made by the Consolidated Appropriations Act, 2023 ... For IRA owners who will attain age 72 in 2023, the RMD statement required under Notice 2002-27 should not be sent, and the 2022 Form 5498 should not include a check in Box 11 or any entries in Box 12a or 12b. However, in recognition of the short amount of time that financial institutions have had to change their systems for furnishing the RMD statement since the enactment of the SECURE 2.0 Act, relief is being provided with respect to this reporting." MORE >>
Internal Revenue Service [IRS]
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BenefitsLink® Retirement Plans Newsletter, ISSN no. 1536-9587.
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