To amend the Internal Revenue Code of 1986 to increase the age for the beginning date for required minimum distributions.

Bill: 117-hr-2933
Sponsor: full_name: Rep. Murphy, Stephanie N. [D-FL-7]
Introduced: 2021-04-30
Policy area: Taxation
Subjects: Employee benefits and pensions

Income tax deferral
Latest action: action_date: 2021-04-30
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2021-04-30
action_desc: Introduced in House
text: <p>This bill increases the age (currently, age 72) at which taxpayers are required to make minimum distributions from tax-exempt retirement plans. For taxpayers who attain age 72 after December 31, 2026, the age is increased to 73; for taxpayers who attain age 73 after December 31, 2032, the age is increased to 75.</p> <ul> <ul> <ul> </ul> </ul> </ul>

tv_txt: I 117th CONGRESS 1st Session H. R. 2933 IN THE HOUSE OF REPRESENTATIVES April 30, 2021 Mrs. Murphy of Florida (for herself and Mr. Estes ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase the age for the beginning date for required minimum distributions.

1. Increase in age for required beginning date for mandatory distributions (a) In general Section 401(a)(9)(C)(i)(I) of the Internal Revenue Code of 1986 is amended by striking age 72 and inserting the applicable age . (b) Spouse beneficiaries; special rule for owners Subparagraphs (B)(iv)(I) and (C)(ii)(I) of section 401(a)(9) of such Code are each amended by striking age 72 and inserting the applicable age . (c) Applicable age Section 401(a)(9)(C) of such Code is amended by adding at the end the following new clause: (v) Applicable age The applicable age shall be— (I) in the case of an individual who attains age 72 after December 31, 2026, age 73, and (II) in the case of an individual who attains age 73 after December 31, 2032, age 75. . (d) Conforming amendments The last sentence of section 408(b) of such Code is amended by striking age 72 and inserting the applicable age (determined under section 401(a)(9)(C)(v) for the calendar year in which such taxable year begins) . (e) Effective date The amendments made by this section shall apply to distributions required to be made after December 31, 2026, with respect to individuals who attain age 72 after such date.