The SECURE 2.0 Act of 2022 includes almost 100 new retirement plan provisions, many of which aren’t effective yet. But some big changes involving required minimum distributions and related penalty relief are already in effect, The age for RMDs was increased from 72 to 73 in 2023, and then to 75 a decade later, in 2033. The 50% penalty for skipping your RMD was reduced to 25%, and to 10% if the missed RMD is made in a timely manner. A new statute of limitations now applies to missed RMDs (3 years) and excess IRA contributions (6 years). Starting in 2024, Roth 401ks will be exempt from RMDs making them similar to Roth IRAs. Click below for more detail on these changes.
https://www.investmentnews.com/secure-2-0-provides-breathing-room-for-rmds-233552