RMD rolloer
I am looking for guidance confirming that under the Care Act that a RMD taken on 2-14-2020 can now be rolled back in its entirety (distribution and taxes ) into the original or same account it was originally disbursed from.
Thanks
I am looking for guidance confirming that under the Care Act that a RMD taken on 2-14-2020 can now be rolled back in its entirety (distribution and taxes ) into the original or same account it was originally disbursed from.
Thanks
Permalink Submitted by Alan - IRA critic on Mon, 2020-04-06 20:43
It can be rolled back, subject to the 60 day and one rollover in 12 months limits. However, if the distribution meets the definition of a corona virus related distribution, that erases both the above requirements so can be rolled back up to 3 years after the distribution. That said, there are gray areas in what meets the CV distribution requirements. Consensus is that eligibility will be broadened quite a bit beyond those directly impacted.