IRS Clarification Issued for 401k Plan’s Required Minimum Distribution Rules – Sequoia
On October 7, 2022, the Internal Revenue Service (IRS) published Notice 2022-531, to clear up confusion on some of the required minimum distributions (RMDs) guidance introduced in the 2019 SECURE Act. Compliance Snapshot Background: SECURE ACT RMD Changes The 2019 SECURE Act was responsible for two primary changes to RMDs. However, in February 2022, the…
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