These proposed regulations would address various provisions that are reserved in the final regulations under Code sections 401(a)(9) and 402(c) in Treasury Decision 10001 (TD 10001), which is being published simultaneously with these proposed regulations. The reserved provisions in TD 10001 which these proposed regulations would address reflect the following sections of the SECURE 2.0 Act of 2022 (SECURE 2.0 Act), enacted on December 29, 2022, as Division T of the Consolidated Appropriations Act, 2023, Public Law 117-328, 136 Stat. 4459 (2022), to the extent they are not addressed in TD 10001: 107 (increase in age for required beginning date for mandatory distributions), 202 (qualifying longevity annuity contracts), 204 (eliminating a penalty on partial annuitization of an employee’s individual account under a defined contribution plan), 302 (reduction in excise tax on certain accumulations in qualified retirement plans), 325 (Roth plan distribution rules), and 327 (surviving spouse election to be treated as employee). In addition, these proposed regulations would provide guidance relating to provisions in TD 10001 permitting separate application of section 401(a)(9) with respect to multiple beneficiaries of a see-through trust.

These regulations provide guidance related to section 401 of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), enacted on December 20, 2019, as Division O of the Further Consolidated Appropriations Act of 2019, Pub. L. 116-94, 133 Stat. 2534 (2019), and by section 107 and various other sections of the SECURE 2.0 Act of 2022 (SECURE 2.0 Act), enacted on December 29, 2022, as Division T of the Consolidated Appropriations Act, 2022, Public Law 117-328, 136 Stat. 4459 (2022). Section 107 of the SECURE 2.0 Act increased the mandatory age by which distributions from a retirement plan are required to begin and section 401 of the SECURE Act limits the ability of designated beneficiaries to take distributions over their life expectancies unless they meet certain exceptions. In addition, the regulations will clarify certain issues related to trusts as beneficiaries and situations under which a beneficiary is identifiable for purposes of section 401(a)(9) of the Code. These regulations also provide guidance related to eligible rollover distributions under section 402(c) reflecting statutory changes to that section since regulations were first issued in 1995. Many rules in existing final regulations are restated without change to satisfy Federal Register requirements.

26 CFR 1.401(a)(9)-0 through 26 CFR 1.401(a)(9)-9; 26 CFR 1.402(c)-2; 26 CFR 1.403(b)-6; 26 CFR 1.457-6; 26 CFR 1.408-8; 26 CFR 54.4974-1

This document contains proposed regulations that would identify transactions that are the same as, or substantially similar to, certain basket contract transactions as listed transactions for purposes of §1.6011-4. Material advisors with respect to and certain participants in these listed transactions would be required to file disclosures with the IRS and would be subject to penalties for failure to disclose.

This document contains final regulations regarding the treatment of property used to acquire parent stock or securities in connection with certain triangular reorganizations involving one or more foreign corporations; the consequences to persons that receive parent stock or securities pursuant to such reorganizations; and the treatment of certain subsequent inbound nonrecognition transactions following such reorganizations and certain other transactions. The final regulations affect corporations engaged in certain triangular reorganizations involving one or more foreign corporations, certain shareholders of foreign corporations acquired in such reorganizations, and foreign corporations that participate in certain inbound nonrecognition transactions.