SECURE 2.0

[Lee B]

I have started reading articles about the SECURE 2.0 Act which went into effect January 1, 2023.

Now that I have started reading, frankly I am amazed at how many changes are heading our way.

We have been discussing QCDs for about 4 years now. 

Now we will have one time Charitable Gift Annuities which will count towards fulfilling the annual RMD of an IRA.

"The SECURE 2.0 Act of 2022, which was included in the $1.7 trillion omnibus spending bill signed by President Biden on December 29, 2022,[1] has a small gift for charities and individuals over age 70 1/2 who are willing to transfer up to $50,000 to a charitable remainder trust or into a charitable annuity arrangement."

There will also be a significant expansion of distribution penalty exceptions and repayment options.

Our life is going to be more complicated.

I need to find some CPE that covers all of the changes.