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For purposes of this section, the term “minimum required distribution” means the minimum amount required to be distributed during a taxable year under section 401(a)(9), 403(b)(10), 408(a)(6), 408(b)(3), or 457(d)(2), as the case may be, as determined under regulations prescribed by the Secretary.
What Is A Qualified Retirement Plan As Defined by IRC Sec. 4974(c)? You may be able to take a credit (Retirement Savings Contribution Credit) of up to $1,000 (up to $2,000 if filing jointly) if you make eligible contributions to a qualified IRA, 401(k) and certain other retirement plans.
19 sie 2024 · Voluntary Correction Program (VCP) – Unlike under SCP, you may request a waiver of the IRC Section 4974 excise tax for RMD failures using VCP. Learn more by reviewing Tips for VCP Submissions for Required Minimum Distributions .
For purposes of this section, the term “minimum required distribution” means the minimum amount required to be distributed during a taxable year under section 401(a)(9), 403(b)(10), 408(a)(6), 408(b)(3), or 457(d)(2), as the case may be, as determined under regulations prescribed by the Secretary.
Section 4974(c) provides, in part, that the term “qualified retirement plan” means (1) a plan described in § 401 (including a trust exempt from tax under § 501(a)), (2) an annuity plan described in § 403(a), (3) a tax-
See Code Section 4974—excise tax on certain accumulations in qualified retirement plans. Find IRS publication info and the full-text Sec. 4974 on Tax Notes.
§54.4974–2 26 CFR Ch. I (4–1–15 Edition) Q–3. If a payee’s interest under a qualified retirement plan is in the form of an individual account, how is the re-quired minimum distribution for a given calendar year determined for purposes of section 4974? A–3. (a) General rule. If a payee’s in-terest under a qualified retirement
