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I am posting this just for a heads-up in case any of you have your RMD set up to be distributed before all of this economic mess is ironed out by our legislators in the coronavirus / economic disaster Stimulus package and you don't want to remove it from your applicable retirement account(s).
CNBC 03/24/2020 - Congress may let you skip this mandatory withdrawal from retirement accounts
from the above link ~
Congress may permit retirees to skip required minimum distributions from their retirement savings.
The House coronavirus relief bill, which was released yesterday, contains a provision that waives for 2020 the required minimum distributions from individual retirement accounts and workplace retirement plans.
A similar provision is in the latest version of the Senate bill.
read MORE at the link ~
From CNBC : the answer is YES, you can postpone any RMD distribution in 2020. https://www.cnbc.com/2020/03/30/op-ed-heres-how-to-take-money-from-retirement-account-under-stimulus...
@JANMB wrote:Thanks
I was waiting to hear about that possibility---believe they did that during the last recession in 2008--(or maybe it was 2009) I forget which year.
That was a little bit before I was mandated to do the RMD - so it wasn't on my radar then but it sure is now.
I just wanted people to know about the likelihood of this happening before they took the one for 2020 - if for some reason, it doesn't get into the passed Stimulus legislation (which I see no reason that it won't) then we still have until 12/31/2020 to receive the 2020 RMD before being assessed that big penalty.
When I know more, I will post back - you do the same, OK?
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