Document Excerpt

This notice provides guidance for the 2020 calendar year regarding Withholding from periodic payments for pensions, annuities, and certain other deferred income under § 3405(a) of the Internal Revenue Code (Code), including the rules for withholding from periodic payments under § 3405(a) when no withholding certificate has been furnished (default rate of withholding). This notice also informs taxpayers that the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) are considering whether the 2020 default rate of withholding under § 3405(a) will continue to be appropriate for calendar years after 2020 and request comments related to the potential adoption of a new default rate of withholding. The deadline for
submission of comments is February 17, 202

Link
https://www.irs.gov/pub/irs-drop/n-20-03.pdf