1545-BP69 202004 Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Income Tax Withholding on Certain Periodic Retirement and Annuity Payments Under Section 3405(a)

The Tax Cuts and Jobs Act, Pub. L. 115-97 (TCJA) amended 26 U.S.C. 3405(a)(4) to provide that the withholding rate for periodic retirement and annuity payments when no withholding certificate has been furnished (the default rate of withholding) shall be determined under rules prescribed by the Secretary. Prior to amendment by TCJA, 26 U.S.C. 3405(a)(4) provided that the default rate of withholding for periodic retirement and annuity payments shall be determined by treating the payee as a married individual claiming 3 withholding exemptions. The NPRM will implement the delegation of authority under TCJA to provide default withholding rules under section 3405(a)(4).

]]> Substantive, Nonsignificant First Time Published in The Unified Agenda Proposed Rule Stage No No Not subject to, not significant 26 CFR 31.3405(a)-1 26 CFR 35.3405-1T 26 U.S.C. 7805 26 U.S.C. 3405(a)(4) No NPRM 06/00/2020 REG-100320-20 (NPRM) Drafting attorney: Kara Soderstrom (202) 317-6799 Reviewing attorney: Keith Kost (202) 317-6799 Treasury attorney: Amber Salotto (202) 622-6707 CC:EEE No Businesses Governmental Jurisdictions Organizations Federal Local State Tribal No No No No Kara Soderstrom Attorney 1545 Internal Revenue Service IRS 202 317-6799 855 604-6086 kara.m.soderstrom@irscounsel.treas.gov 1111 Constitution Avenue NW., Room 4422, Washington DC 20224