
Extension of rollover period for 2020 RMDs
While the CARES Act eliminated the requirement for individuals to take required minimum distributions (RMDs) from retirement plans in 2020, those who took their RMD before the Act’s passage found themselves in a sort of limbo solely due to timing. According to existing rules, only those who took a distribution on or after February 1, 2020 could roll the distribution back into a plan or IRA and meet the 60 day rule. Those who took