Tag Archives: IRA

The IRS recently issued guidance extending the deadline for retirement plans and individual retirement accounts (IRAs) to adopt amendments reflecting legislation passed into law in 2019 and 2020. The previous deadline for calendar year plans has been postponed from December 31, 2022, to December 31, 2025. The additional time is good news for sponsors and […]

For 2021, the IRS is again enforcing required minimum distributions (RMDs) from retirement accounts after a one-year hiatus due to the COVID-19 pandemic. However, the rules for taking RMDs have changed since the SECURE Act went into effect on Jan. 1, 2020, and those individuals who do not rely on RMDs for retirement income may […]