Yes, the CARES Act waives RMDs in calendar year 2020. It also applies to those who:
• Delayed their 2019 RMD until April 1, 2020 – that RMD is not required to be taken
• Have an RMD due by December 31, 2020 – that RMD is not required to be taken
• Use the five-year rule to deplete an Inherited IRA – 2020 is not counted in the five years, essentially providing 6 years to deplete the account.
If an IRA owner already took an RMD in 2020, they may roll it back into an IRA within 60 days of receiving the distribution. (Future IRS guidance on the RMD waiver could possibly extend the 60-day deadline.)
