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Internal Revenue Service Employee Benefits Required Minimum Distributions

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Husch Blackwell LLP

Planning for Retirement Benefits Post-Secure Act

Husch Blackwell LLP on

On July 18, 2024, the Internal Revenue Service (IRS) issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the Setting Every Community Up for Retirement...more

Bricker Graydon LLP

Final Warning: Distributions to Beneficiaries Must Begin in 2025

Bricker Graydon LLP on

The retirement plan industry has been wrestling with the changes to required minimum distribution (RMD) provisions made by the SECURE Act and SECURE 2.0. One issue in particular has caused considerable confusion....more

Laner Muchin, Ltd.

IRS Finalizes Required Minimum Distribution Regulations

Laner Muchin, Ltd. on

The IRS recently published its final regulations addressing changes to Tax Code Section 401(a)(9), relating to required minimum distributions (RMDs), under the Setting Every Community Up for Retirement Enhancement Act of 2019...more

Kilpatrick

IRS Issues Long-Awaited Final RMD Regulations

Kilpatrick on

On July 18, 2024, the IRS finalized changes to the regulations governing required minimum distributions (“RMDs”) to reflect changes made by the Setting Every Community Up for Retirement Act of 2019 (“SECURE Act”) and SECURE...more

Groom Law Group, Chartered

IRS Finalizes (and Proposes More) Required Minimum Distribution Rules

At long last, the Treasury Department and the Internal Revenue Service (“IRS”) issued final (and new proposed) regulations that address the major changes to Code section 401(a)(9) under the Setting Every Community Up for...more

Farrell Fritz, P.C.

IRS Issues Final Regulations Regarding Required Minimum Distributions (RMDs) from Retirement Accounts

Farrell Fritz, P.C. on

On July 18th, the Internal Revenue Service released final regulations regarding required minimum distributions (RMDs) from retirement accounts. The final regulations reflect changes to the Internal Revenue Code made by the...more

Quarles & Brady LLP

Navigating Required Minimum Distribution (RMD) Relief: IRS Notice 2024-35

Quarles & Brady LLP on

On April 16, 2024, the IRS released Notice 2024-35, extending the previously provided temporary relief from certain required minimum distribution (RMD) requirements for beneficiaries under qualified defined contribution plans...more

Morgan Lewis - ML Benefits

IRS Extends Post-Death RMD Relief Under the 10-Year Rule for 2024 Distributions

The Internal Revenue Service (IRS) recently extended relief with respect to certain post-death required minimum distributions (RMDs) under Internal Revenue Code Section 401(a)(9)....more

Kilpatrick

IRS Extends Relief from RMD Rules in 2024

Kilpatrick on

On April 16, 2024, the IRS issued additional transitional relief in Notice 2024-35 (“2024 Notice”) for certain required minimum distributions (“RMDs”). The latest relief extends the transitional relief that the IRS...more

McDermott Will & Emery

IRS Says Keep Those Class Exclusions Classy Under Long-Term, Part-Time Employee Rules

McDermott Will & Emery on

In this series of articles, we explore the implications of the long-term, part-time employee rules under the SECURE Act and SECURE 2.0 and the impact those rules have on employers and their workforces. Together, the...more

Schwabe, Williamson & Wyatt PC

IRS Releases Retirement Plan Limits for 2024 Plan Year

November 7, 2023 Employer update Of Counsel With the release of IRS Notice 2023-75, we now know the retirement plan limits for Plan Years starting January 1, 2024. The chart below details the changes made to the limits....more

McDermott Will & Emery

There’s a Party Going on Right Here! Roth Catch-Up Change Delayed Two Extra Years!

McDermott Will & Emery on

Yahoo! Let’s celebrate—the IRS gave us more time! On August 25, 2023, the Internal Revenue Service announced an administrative transition period that effectively delays the deadline for adding Roth catch-up contributions...more

Quarles & Brady LLP

Updates on SECURE 2.0, the Employee Retention Credit and the Preventive Services Mandate

Quarles & Brady LLP on

The Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022 (SECURE 2.0) was enacted in December 2022 as part of the year-end omnibus spending bill. Even though several provisions were effective in 2023, the...more

Jackson Lewis P.C.

How the RMD Rules Are Like a New Puppy

Jackson Lewis P.C. on

On July 17, the Internal Revenue Service (IRS) issued an advance version of Notice 2023-54 (the Notice) which will include transition relief for plan administrators in connection with the change in the required beginning date...more

Kilpatrick

More Relief from RMD Rules in 2023

Kilpatrick on

The IRS provided more transitional relief in Notice 2023-54 (“2023 Notice”) for certain required minimum distributions (“RMDs”).  The 2023 Notice extends the transitional relief that the IRS previously issued in Notice...more

Faegre Drinker Biddle & Reath LLP

Congressional Leaders Address SECURE 2.0 Act Glitches

The SECURE 2.0 Act made sweeping changes to Internal Revenue Code (Code) and ERISA provisions governing employee benefit plans. In a recent letter to the Department of the Treasury and the Internal Revenue Service, the...more

McDermott Will & Emery

SECURE 2.0 Technical Corrections Are on the Way, Eventually

McDermott Will & Emery on

In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond. In an open letter to Secretary of the Treasury Janet Yellen and IRS Commissioner...more

Groom Law Group, Chartered

SECURE 2.0 Guidance – IRA Reporting Relief for 2023 RMDs

SECURE 2.0 followed in the footsteps of the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) to further delay the required beginning date for required minimum distributions (“RMDs”), and IRA...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - January 2023

The Senate ushered in the New Year with a bang by passing SECURE 2.0 on December 22, 2022. SECURE 2.0 includes many updates to the sweeping changes brought about under 2019’s original SECURE Act legislation. The following are...more

Bass, Berry & Sims PLC

SECURE 2.0 + 1: Retirement Plan Changes and One Notable Health Plan Change

Bass, Berry & Sims PLC on

As widely reported, the president recently signed into law the Consolidated Appropriations Act of 2023 (CAA 2023), a $1.7 trillion omnibus spending bill, which contains significant provisions affecting employer-sponsored...more

Jackson Lewis P.C.

SECURE 2.0 Series Part 3: Retirement Plan Required Minimum Distribution Age to Increase to 75

Jackson Lewis P.C. on

Most Americans prefer not to pay more in income tax than absolutely required or to pay taxes any sooner than necessary. This includes many retired individuals who do not need to tap into their employer-sponsored retirement...more

Ballard Spahr LLP

Major Retirement Plan Changes in the SECURE 2.0 Act of 2022

Ballard Spahr LLP on

Summary - On December 29, 2022, President Biden signed into law the SECURE 2.0 Act of 2022 (the Act) as part of the Consolidated Appropriations Act, 2023. SECURE 2.0 features more than 350 pages of new laws affecting...more

Pullman & Comley - School Law

No Extended Secure Act Amendment Period for Section 457(b) Plans Sponsored by Tax-Exempt Entities; Amendments Due December 31,...

Section 457(b) Plans provided by Tax-Exempt employers for their highly compensated employees and/or a select group of management employees (“Tax-Exempt 457(b) Plans”) are subject to required minimum distribution rules under...more

Pullman & Comley - Labor, Employment and...

No Extended Secure Act Amendment Period for Section 457(b) Plans Sponsored by Tax-Exempt Entities: Amendments Due December 31,...

Section 457(b) Plans provided by Tax-Exempt employers for their highly compensated employees and/or a select group of management employees (“Tax-Exempt 457(b) Plans”) are subject to required minimum distribution rules under...more

Pullman & Comley - Labor, Employment and...

IRS Provides Required Minimum Distribution Relief for 2021 and 2022

Retirement plans and individual retirement accounts (IRAs) are subject to required minimum distribution rules under Internal Revenue Codes Section 401(a)(9). The SECURE Act amended the required minimum distribution rules...more

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