Penalty Relief for Beneficiaries of Inherited IRAs- Guidance for Certain Required Minimum Distributions for the 2021 and 2022 tax years. The Department of the Treasury and the Internal Revenue Service (IRS) intend to issue final regulations related to required minimum distributions (RMDs) under section 401(a)(9) of the Internal Revenue Code that will apply no earlier than the 2023 distribution calendar year. The IRS provided the following guidance related to certain provisions of section 401(a)(9) that apply for 2021 and 2022: Guidance for defined contribution plans that did not make a specified RMD A defined contribution plan that failed to make a specified RMD (as defined in Section IV.C of Notice 2022-53) will not be treated as having failed to satisfy section 401(a)(9) merely because it did not make that distribution. Guidance for certain taxpayers who did not take a specified RMD To the extent a taxpayer did not take a specified RMD (as defined in Section IV.C of Notice 2022-53), the IRS will not assert that an excise tax is due under section 4974. If a taxpayer has already paid an excise tax for a missed RMD in 2021 that constitutes a specified RMD, that taxpayer may request a refund of that excise tax. For more information on this guidance, see Notice 2022-53PDF.