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Required minimum distribution rollover relief (2020-51)

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.

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