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.

For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

On June 23, 2020, the Internal Revenue Service (IRS) issued Notice 2020-51, in part, providing relief for individuals who took a required minimum distribution (RMD) in 2020 from certain retirement accounts.

Baker Tilly pairs deep industry knowledge with service specialization to deliver high quality accounting and assurance services.

Baker Tilly accounting and assurance services professionals provide clients with enhanced data-driven audits and attest services that are objective and independent.

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We help meet your employee benefit plan’s annual audit and filing requirements, and work to protect the plan’s integrity.

Baker Tilly employee benefit plan professionals provide clients with accurate, compliant audits of their 401(k), 403(b), ESOP, health and welfare, 11-k and cash balance plans. 

Required minimum distribution rollover relief (2020-51)

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Required minimum distribution rollover relief (2020-51)

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