How did the CARES Act change the required minimum distribution rules?

Posted by Bonita Hatchett-Bodle

Apr 9, 2020 4:57:02 PM

The CARES Act suspended required minimum distributions (RMD) for 2020. These are the amounts that the IRS requires be distributed from retirement arrangements beginning April 1 of the calendar year following the later of the calendar year in which the individual attains age 72 or retires. The purpose of the RMD rules is to enable the IRS to start taxing amounts that have been tax deferred for many years. The waiver applies to:

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Topics: required minimum distributions