Limits contributions and increases minimum distributions for high-income taxpayers with large retirement account balances.

This bill amends the Internal Revenue Code to impose limits on contributions and increase minimum distributions for high-income taxpayers with large retirement account balances. It defines "applicable annual contribution" and sets dollar limits for contributions to individual retirement plans based on filing status. The bill also increases minimum required distributions for taxpayers with aggregate account balances exceeding $10 million. These changes apply to taxable years beginning after December 31, 2026, and plan years beginning after December 31, 2033.

Limits contributions and increases minimum distributions for high-income taxpayers with large retirement account balances.

This bill amends the Internal Revenue Code to impose limits on contributions and increase minimum distributions for high-income taxpayers with large retirement account balances. It defines "applicable annual contribution" and sets dollar limits for contributions to individual retirement plans based on filing status. The bill also increases minimum required distributions for taxpayers with aggregate account balances exceeding $10 million. These changes apply to taxable years beginning after December 31, 2026, and plan years beginning after December 31, 2033.