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Rotten5
New Member

Did the extension of the CARES ACT extend the retirement withdrawal deadline past December 30, 2020?

Did the extension of the CARES ACT extend the early retirement withdrawal penalty exemption deadline past December 30, 2020? We took our last one on December 31st as my husband was still on unemployed and we thought it was for the entire year.

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2 Replies
MinhT1
Expert Alumni

Did the extension of the CARES ACT extend the retirement withdrawal deadline past December 30, 2020?

The special rules for retirement plans and IRAs in section 2202 of the CARES Act were not extended beyond December 30, 2020.

 

Your distribution on December 31, 2020 cannot benefit from the relief measures provided by section 2202.

 

Please read this IRS document for more information.

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Rotten5
New Member

Did the extension of the CARES ACT extend the retirement withdrawal deadline past December 30, 2020?

Thanks for the input and the links!  My husband just checked and he applied before Dec 31st 2020 for the distribution, but the money didn't get transferred to our bank account until Dec 31st 2020.  So, I'm hoping that will be enough 🤞

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