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The recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act waives 2020 required minimum distributions (RMDs) from IRAs (including Traditional IRAs, simplified employee pension (SEP) IRAs, SIMPLE IRAs, and inherited Roth IRAs) and defined contribution plans (such as 401(k) and 403(b) plans). The RMD waiver is part of the largest economic relief package in U.S. history, and is intended to help taxpayers whose retirement accounts may have been adversely affected by the economic downturn caused by the coronavirus (COVID-19) pandemic.

SOURCE Ascensus

FULL ARTICLE: How the 2020 RMD Waiver Applies; Rollover Guidance Needed

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