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2023 Quick Reference Guides
|Waiver of Excise Tax: For RMD Failures Under The 10-year Rule||
Bottom line: The RMD excise tax excise tax is waived for a beneficiary that is (a) subject to the 10-year Rule and (b) required to take annual life-expectancy RMDs.
This cheat sheet answers the question: Which class of beneficiary is eligible for the automatic waiver of the excise tax on RMD failures for 2021, 2022, and 2023?
|Substantially Equal Periodic Payments for IRAs and Employer Plans||Use this as a guide to determining the rules that apply to substantially equal periodic payments (SEPP). Distributions that meet the SEPP requirements are exempted from the 10% early distribution penalty that generally applies to pre-age 59 ½ distributions. Updated with IRS Notice 2022-6 and SECURE Act 2.0.|
|Employer Plan Comparison Table 2023||A high level summary of the features and benefits of retirement plans for small business owners|
|2023 IRA Calendar of Events||Use this guide to determine the deadline for IRA Transactions and Statements, and the compliance requirements that might apply.|
|How to calculate RMDs: Quick Reference Guide||An explanation of how to calculate RMDs for IRAs and Defined contribution plans .SECURE Act 2.0 updated|
|RMD Rules: Quick Reference Guide||An overview of the RMD rules that applies to IRAs and Defined Contribution Plans. SECURE Act 2.0 updated|
Use this guide to determine some of the ways in which a Traditional IRA can be funded and the rules that apply.
|2023 Roth IRA Funding Options||Use this guide to determine some of the ways in which a Roth IRA can be funded and the rules that apply.|
|Qualified Charitable Distributions||Use this as a guide to determine the rules that apply to qualified charitable distributions (QCD)|
|Early Distribution Penalty||Use this guide to determine whether a pre- age 59 ½ distribution from an IRA or employer plan account could be exempt from the 10% additional tax (early distribution penalty).|