Your clients who have reached at least age 72 in 2022 and have IRA or 401(k) plans have an urgent reason to meet with you early in 2023: The Required Minimum Distribution rules have changed, and many websites and RMD letters from financial institutions will dispense outdated information. The confusion is even worse now that SECURE Act 2.0 has been enacted. IRS penalties have changed, the "10 Year Rule" has become the 9-Year Rule, and more. It is all in the software update. Don't wait for your clients to call you when they receive conflicting information -- set appointments with them now. (Be sure to order the software first.)

Use ImagiSOFT's RMD Software to give clients authoritative RMD calculations and

• review their IRA accumulation balances
• ask them about asset reallocation
• determine if their beneficiary designations are still current
• and discover whether they have other assets they want to place with your firm.

Lower RMD Factors Beginning 2022. On November 12, 2020 the IRS released a 31-page Final Regulation titled "Updated Life Expectancy and Distribution Period Tables Used for Purposes of Determining Minimum Required Distributions" that is effective January 1, 2022. ImagiSOFT's RMD calculator now uses these new factors, but also supports prior-year factors and formulas. See the sample 2022 RMD report. The line "Divided by factor from 2022 IRS Uniform Lifetime Table for age 73 - 26.5" tells you the name of the IRS Table and the income factor (the earlier table, 2002, has a factor of 24.7).