Thanks for the response. My first question remains unanswered;
1) What is the definition of COVID-19 impacts
Obviously if you, your spouse or a dependent becomes ill then you are impacted. If your business is closed or you are furloughed / laid-off then I assume your are impacted. Here is our situation and concern;
Have 2 adult non-dependent children, their spouses and 7 grandchildren. They are all laid-off and no income. They applied for unemployment insurance but that does not cover the basics. We want to step in and assist but the method of that assistance could vary based on several factors. If this situation would be considered a COVID-19 impact then that would allow access to the IRA on a tax-free basis if re--deposited within the 3 year limitation. So again, What is the definition of COVID-19 impacts? Thanks,
