安全2.法案-第302条. Reduction in 特许权 税 on Certain Accumulations in Qualified Retirement Plans
安全的2.2 .采取安全措施.0) has changed the rules surrounding required minimum distributions (RMDs). Required minimum distributions represent minimum amounts that must be withdrawn out of retirement accounts on an annual basis depending on the individual’s age (reference Section 107 of 安全2.0 for new age requirements).
Existing law imposes an excise 税 on an individual if the amount distributed during a 税able year is less than the RMD for that year. The excise 税 is equal to 50% of the shortfall (that is, 50% of the amount by which the RMD exceeds the actual distribution).
第302节. reduces the excise 税 that an individual would be subject to if they failed to meet their RMD starting in the 2023 税 year. Specifically, the excise 税 for failure to take RMDs reduced to 25% of the amount not taken.
If a failure to take an RMD has occurred and been corrected in a timely manner (within 2 years) the excise 税 has been reduced further to 10%. If an RMD has been missed the account owner should file Form 5329, Additional 税es on Qualified Plans (including IRAs) and Other 税-Favored Accounts with their federal 税 return for the year they failed to take the RMD.
If you have any questions about 安全2.0, please contact a member of the bet9游戏平台 退休的解决方案 team at sdretirement@raymond-illinois.com.
This article is part of a series highlighting the impact of the 安全2.0 on retirement plan sponsors, participants and retirees. You can view our full catalog of 安全2.0的文章 在这里 or download our comprehensive 安全2.0的电子书 在这里.
关于安全2.0
安全2.0 was signed into law by President Biden on Dec. 29, 2022, as part of a $1.7 trillion omnibus spending bill.
This massive piece of legislation builds on the foundation that was laid by the 2019 Setting Every Community Up for Retirement Enhancement (SECURE) Act to further improve upon the success of the private employer-based retirement system by making it easier for businesses to offer retirement plans and for individuals to save for retirement.
The full text of 安全2.0, including provisions that affect pension and cash balance plans, may be found on pages 2,046-2,公共汽车第404页 Consolidated Appropriations Act of 2023.
About bet9游戏平台 退休的解决方案
bet9游戏平台 退休的解决方案 has experience in all facets of qualified and non-qualified plan delivery, which allows us to be flexible to the needs and direction of our clients. Our specialized team of advisers and consultants provide objective advice and expertise to help plan sponsors govern their retirement plans appropriately, 降低风险, improve participant outcomes and support efficient and compliant plan operations.
bet9游戏平台 财富管理 Advisors, LP (SDWMA) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). SDWMA provides fee-based investment management services and financial planning services, along with fee-based retirement advisory and consulting services. Material discussed is meant for informational purposes only, and it is not to be construed as investment, 税务或法律建议. Please note that individual situations can vary. 因此, this information should be relied upon when coordinated with individual professional advice. Registration with the SEC does not imply any level of skill or training.