Bene Stretch IRA RMD Waiver for 2020 - Ed Slott and Company, LLC

Submitted by Julie Brangenberg on Wed, 2020-04-01 19:39

Hello. Do beneficiaries using the IRA Stretch over their life expectancy have the option to waive their RMD this year due to the CARES Act?
Also, do you have a good piece I could send to clients that covers how the CARES Act affects their IRA’s? Thanks.

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Permalink Submitted by Alan - IRA critic on Wed, 2020-04-01 21:33

Yes, their RMD is waived, but if it has already been distributed, it cannot be rolled back.
The following article by Michael Kitces interprets the complex tax code sections into more user friendly paragraphs. Perhaps you can use some of them.
https://www.kitces.com/blog/analyzing-the-cares-act-from-rebate-checks-to-small-business-relief-for-the-coronavirus-pandemic/?utm_source=Nerd%E2%80%99s+Eye+View+%7C+Kitces.com&utm_campaign=4b3655b1e2-NEV_MAILCHIMP_LIST&utm_medium=email&utm_term=0_4c81298299-4b3655b1e2-57212157

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