On June 23, 2020, the Internal Revenue Service (IRS) issued Notice 2020-51. In part, this provided relief for individuals who took a required minimum distribution (RMD) in 2020 from certain retirement accounts. These individuals may roll those funds back into a retirement account until Aug. 31, 2020. This relief was due to the enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provision allowing RMD waivers for 2020.
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