In July, the Department of the Treasury and the Internal Revenue Service issued final regulations updating the required minimum distribution (RMD) rules, since the passage of SECURE 2.0. However, the American Retirement Association (ARA) is asking for the effective date to be pushed back and for certain provisions to be clarified, in a letter sent to the IRS.
The final IRS regulations reflected changes made by the SECURE Act and the SECURE 2.0 Act impacting retirement plan participants, IRA owners and their beneficiaries.
As proposed, the new IRS regulations would apply for purposes of determining RMDs for calendar years beginning on or after Jan. 1, 2025. However, in its letter to the IRS, the ARA suggested that the effective date of the regulation should be delayed until 18 months after publication of the final rule.
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