By Sarah Brenner, JD
Director of Retirement Education
Follow Us on Twitter: @theslottreport
Question:
When will the IRS release final regulations for RMDs on beneficiary IRAs?
Kim
Answer:
Hi Kim,
That is a great question. We have been fielding many inquiries about when the final RMD regulations will be released by the IRS. The proposed regulations were released back in February, and a hearing was held in Washington a few months later as required by law. We are still waiting for final regulations, and no one really can say for sure when they will arrive. At the Slott Report, we carefully monitor any news coming out of the IRS, and we will keep you up to date on any developments with final regulations.
Question:
Will RMD distributions paid to charitable organizations as a QCD be counted in income calculations for purposes of IRMAA? RMD distributions that are not QCDs are counted.
Thanks,
Bill
Answer:
Hi Bill,
One of the big benefits of doing a qualified charitable distribution (QCD) is that the funds that go to charity are not included in adjusted gross income for purposes of calculating IRMAA surcharges for Medicare. You are correct that RMDs that are paid to the individual would be included. This can be avoided by using a QCD to take your RMD.
Content Citation Guidelines
Below is the required verbiage that must be added to any re-branded piece from Ed Slott and Company, LLC or IRA Help, LLC. The verbiage must be used any time you take text from a piece and put it onto your own letterhead, within your newsletter, on your website, etc. Verbiage varies based on where you’re taking the content from.
Please be advised that prior to distributing re-branded content, you must send a proof to [email protected] for approval.
For white papers/other outflow pieces:
Copyright © [year of publication], [Ed Slott and Company, LLC or IRA Help, LLC – depending on what it says on the original piece] Reprinted with permission [Ed Slott and Company, LLC or IRA Help, LLC – depending on what it says on the original piece] takes no responsibility for the current accuracy of this information.
For charts:
Copyright © [year of publication], Ed Slott and Company, LLC Reprinted with permission Ed Slott and Company, LLC takes no responsibility for the current accuracy of this information.
For Slott Report articles:
Copyright © [year of article], Ed Slott and Company, LLC Reprinted from The Slott Report, [insert date of article], with permission. [Insert article URL] Ed Slott and Company, LLC takes no responsibility for the current accuracy of this article.
Please contact Matt Smith at [email protected] or (516) 536-8282 with any questions.
