Final regulations: Updated life expectancy, distribution period tables for retirement plans
Updated life expectancy, distribution period tables
The U.S. Treasury Department and IRS this afternoon released for publication in the Federal Register final regulations (T.D. 9930) to update the life expectancy and distribution period tables that are used to calculate required minimum distributions from qualified retirement plans, individual retirement accounts (IRAs) and annuities, and certain other tax-favored employer-provided retirement arrangements.
Read the final regulations [PDF 392 KB] (32 pages as published in the Federal Register on November 12, 2020)
This release finalizes regulations that were proposed in November 2019. Read TaxNewsFlash
According to the preamble to today’s final regulations, a public hearing on the proposed regulations was held in January 2020 when 55 written comments were received and two speakers provided oral comments; and after consideration of the comments, “the proposed regulations are adopted as revised by” these final regulations.
The purpose of this report is to provide text of the final regulations.
© 2022 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.