Additional Flexibility for Required Minimum Distributions (RMDs) Taken During 2020

Tucker Arensberg, P.C.
Contact

Tucker Arensberg, P.C.

The CARES Act suspended the required minimum distribution (RMD) rules for DC plans and IRAs for 2020 for those past age 70½ (or those past age 72 under new rules).  If you have already taken a RMD for 2020 from a DC plan and wish to reverse it, you have until at least August 31, 2020 to do so by rolling over the distribution.  If you have already taken a RMD for 2020 from an IRA and wish to reverse it, you have until at least August 31, 2020 to return the distribution to the IRA.  For more details, see Notice 2020-51.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Tucker Arensberg, P.C. | Attorney Advertising

Written by:

Tucker Arensberg, P.C.
Contact
more
less

Tucker Arensberg, P.C. on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.