Regulatory Updates

Temporary Waiver of RMDs Proposed in House

Representative Warren Davidson (R-OH) has introduced HR 8331, a bill that would provide for a suspension of required minimum distributions (RMDs) from retirement plans and IRAs for the 2022 calendar year. Such relief was last granted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, which suspended distributions for the 2020 tax year. Similar to this relief, the bill proposes that RMDs taken for 2022 be eligible for rollover. 

The bill has been referred to the House Committee on Ways and Means. Any progress will be monitored, and details provided as warranted.