Required Minimum Distribution
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Updates to 2020 IRA Regulations
June 30, 2020
The CARES Act of 2020 has several provisions relating to owners of Traditional IRA and Roth IRA accounts. The extension of contribution deadlines and the suspension of required minimum distributions (RMDs) are two major changes affecting retirement accounts this year. In addition, the IRS recently published updated guidelines for IRA owners who took their required minimum distributions early in 2020.
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2020 Changes to IRA Regulations – CARES Act
April 13, 2020
The recently passed $2 trillion relief bill (CARES Act) contains not only provisions related to stimulus payments and small business relief, but also includes several provisions related to owners of IRA accounts. Below are a couple of those provisions which might be of interest to clients who are already retired as well as those approaching retirement.