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The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”)

Temporary Waiver of Required Minimum Distribution Rules For Certain Retirement Plans and Accounts

This waives required minimum distributions that are required to be made in 2020 from defined contribution plans (such as 401(k) plans) and IRAs. The waiver includes required minimum distributions that are due by April 1, 2020, because the account owner turned 70 ½ in 2019. RMD’s previously taken can be rolled over within 60 days.

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