Reduction of missed RMD penalty
The lowering from 50% to 25% is only for RMDs missed in 2023 and later, correct?
In other words, if you missed an RMD in 2021 or 2022, you’re still stuck paying 50% (barring getting a waiver), correct?
The lowering from 50% to 25% is only for RMDs missed in 2023 and later, correct?
In other words, if you missed an RMD in 2021 or 2022, you’re still stuck paying 50% (barring getting a waiver), correct?
Permalink Submitted by David Mertz on Mon, 2023-03-27 20:14
Correct. Sec. 302 of SECURE 2.0 is effective for years beginning after 2022.