Notice 2023-23 provides guidance to financial institutions for reporting required minimum distributions (RMDs) for 2023 because of a change to the RMD rules made by the SECURE 2.0 Act (Division T of the Consolidated Appropriations Act, 2023, P. L. 117-328). The SECURE 2.0 Act delayed the required beginning date for RMDs. Under this change, IRA owners who turn 72 in 2023 will not have a required minimum distribution for 2023 (because the age with reference to which the required beginning date is determined for those IRA owners is changed from 72 to 73). Under relief provided in the notice, the IRS will not consider an RMD statement provided to an IRA owner who will turn 72 in 2023 to have been provided incorrectly if the IRA owner is notified by the financial institution no later than April 28, 2023, that no RMD is actually required for 2023.

Notice 2023-23 will be in IRB: 2023-13, dated 3/27/2023.

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N-2023-23: Relief for Reporting Required Minimum Distributions for IRAs for 2023

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