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SECURE 2.0: Required Minimum Distributions (RMDs)
Watkins Ross 
[Guidance Overview] Sept. 7, 2023 "[Notice 2023-54] granted a transitional relief for RMDS for those participants born in 1951 and that have already received an RMD: The IRS is allowing the 60-day rollover rule for RMDs processed from January 1, 2023 to July 31, 2023 for participants born in 1951. Those affected participants (including a participant's surviving spouse) will have until September 30, 2023 to rollover their 'mischaracterized RMDs'. This also allows the participant to rollover the distributed funds back into the plan. Plans will not be penalized for failing to treat the distributions as eligible for rollover." |
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