Has the IRS officially adopted SOA RP-2014 mortality tables?

Nov 04, 2016

Has the IRS officially adopted SOA RP-2014 mortality tables? I'm trying to determine if it was used to calculate my lump-sum pension payout. The documentation only says the 2016 IRS Prescribed Mortality Table was used. Is this based on RP-2014, or not yet?

According to the Internal Revenue Service Bulletin 2015-33, the 2014 mortality tables do not apply to 2016 distributions. The 2014 mortality tables will only be applied after comments received in response to the proposed applicability of them are considered and new regulations are issued. So the IRS has not adopted the RP-2014 yet based on the information downloaded from the IRS website as of Nov. 3, 2016. 

For more resources, check out PICPA’s Money & Life Tips, Ask a CPA, or CPA Locator.

Answered by: Ibolya Balog, CPA, is an associate professor at Cedar Crest College in Allentown, Pa.

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