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2020 Required Minimum Distribution Rollovers-Due 8/31/2020

Posted by Admin Posted on Aug 22 2020

Waiver of required minimum distribution rules/Rollover. Required minimum distributions that otherwise would have to be made in 2020 from defined contribution plans (such as 401(k) plans), IRAs, and inherited IRAs are waived. This includes distributions that would have been required by April 1, 2020, due to the account owner's having turned age 70 1/2 in 2019.  If you took a minimum distribution between January 1 and August 31, 2020 you have until August 31, 2020 to roll it back into your 401k, IRA, or inherited IRA.