BG5150 Posted January 10, 2022 Share Posted January 10, 2022 When I go to the "Retirement Topics — Required Minimum Distributions (RMDs)" page of the IRS it mentions the new age 72 rule. However, under "Calculating the required minimum distribution" section, the link to the Uniform Life Table leads to Publication 590-B (2020) and the sub heading says "For use in preparing 2020 Returns" Can I even find the new tables in the Retirement section of the IRS site? If so, where? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left. Link to comment Share on other sites More sharing options...
C. B. Zeller Posted January 10, 2022 Share Posted January 10, 2022 The revised 1.401(a)(9)-9 which contains the new tables was published in the Federal Register on November 12, 2020. https://www.federalregister.gov/documents/2020/11/12/2020-24723/updated-life-expectancy-and-distribution-period-tables-used-for-purposes-of-determining-minimum Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co Link to comment Share on other sites More sharing options...
BG5150 Posted January 10, 2022 Author Share Posted January 10, 2022 I found the Federal Register page. I even have the text from the FR itself. But what is a participant to do? If they went to the IRS site, typed in RMD then followed "Retirement Topics--Required Minimum Distributions (RMDs), then "Calculating the RMD" and clicked the link to the Uniform Life Table: That leads to 590-B (2020). How is a participant supposed to PROPERLY calculate their distribution? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left. Link to comment Share on other sites More sharing options...
BG5150 Posted January 10, 2022 Author Share Posted January 10, 2022 And what's next? A link to the 2021 Form? Which KINDA makes sense, since people are working on their 2021 returns. But then some people are preparing to take their 2022 RMDs now. The would need a 590-B TWO YEARS later than the one that is linked right ont he IRS website. It's not like it's some third party site, it's the gosh darned IRS site! QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left. Link to comment Share on other sites More sharing options...
C. B. Zeller Posted January 10, 2022 Share Posted January 10, 2022 A participant who does not keep themselves informed of IRS regulatory activity (presumably most participants) should rely on a trusted service provider such as a recordkeeper, custodian, or TPA to provide them with the most up-to-date information. Pub 590-B (which only relates to IRAs, not qualified plans), even says "If an RMD is required from your IRA, the trustee, custodian, or issuer that held the IRA at the end of the preceding year must either report the amount of the RMD to you, or offer to calculate it for you." The IRS does not expect IRA owners to calculate their own RMD amounts. Luke Bailey 1 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co Link to comment Share on other sites More sharing options...
Bri Posted January 10, 2022 Share Posted January 10, 2022 My favorite way to find the table is to Google "new uniform lifetime table", and then switch to the Images part of the results. Link to comment Share on other sites More sharing options...
BG5150 Posted January 11, 2022 Author Share Posted January 11, 2022 My point is that participants SHOULD be able to rely on the IRS website for that information. Same with retirement plan professionals. Sometimes we have questions. Unfortunately, I've learned not to trust the IRS site. RestAssured 1 QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left. Link to comment Share on other sites More sharing options...
RestAssured Posted March 15, 2022 Share Posted March 15, 2022 UPDATED 590-B https://www.irs.gov/pub/irs-pdf/p590b.pdf Hope this helps. Link to comment Share on other sites More sharing options...
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