The IRS recently issued IRS Notice 2020-50 (“Notice 2020-50”) which provides guidance for retirement plan sponsors and administrators, as well as to individuals, relating to the application of coronavirus-related distributions and certain relief relating to plan loans that are available to qualified individuals under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Importantly, the guidance clarifies several key points impacting the administration of employer retirement plans under the CARES Act.