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Significant Changes to 2022 Pension and IRA Reports Reflected on Draft Withholding Forms
Groom Law Group Link to more items from this source
[Guidance Overview]
Apr. 1, 2021

"Notably, the [draft] Form W-4P provides for a new default withholding rate of single with no adjustments (i.e., no longer married with three allowances), which likely will result in more taxes withheld. These new forms (or substitute forms) will be required for pension distributions made in 2022, although current retirees will not need to complete a new Form W-4P if there are no withholding changes."

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