No, you will not receive a corrected Form 1099-R. You will not have to pay tax and you will not be subject to a penalty. You will indicate that you withdrew the funds and rolled them over under the Cares Act provisions on Form 8915-E. Form 8915-E is still in Draft mode at the IRS.
At this point and time the Form 8915-E (Qualified 2020 Disaster Retirement Plan Distributions and Repayments (Use for Coronavirus-Related Distributions)) is not finalized. We currently do not have an estimated date when the form is ready.
Please sign-up here and we will email you once the form is live.
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