Jul 18, 05:37 PM

IRS Finalizes New IRA Withdrawal Regulations Under SECURE 2.0, Raises Withdrawal Age

The IRS has finalized new regulations concerning IRA withdrawals, providing long-awaited clarity for investors. Key changes include the requirement for beneficiaries of retirement account owners, who died after starting distributions, to continue taking annual distributions. Additionally, the IRS has raised the age at which workers must begin withdrawing funds from their qualified retirement accounts. These updates, part of SECURE 2.0, aim to ensure compliance with required minimum distributions, including new mid-year termination rules for SIMPLE IRA Plans.

#IRS #IRA #SIMPLE IRA Plans

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