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Level 1

I'm over 72 and retired. I understand for 2020 I do not have to complete my RMD for this year. True?

No tax penalty in 2020
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Expert Alumni

I'm over 72 and retired. I understand for 2020 I do not have to complete my RMD for this year. True?

According to the CARES Act (COVID-19 relief) RMDs required to be made or that begin in 2020 are waived. Calendar year 2020 is disregarded for distributions that are being made under the 5-year rule. Learn more about the the CARES Act here. 

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Expert Alumni

I'm over 72 and retired. I understand for 2020 I do not have to complete my RMD for this year. True?

According to the CARES Act (COVID-19 relief) RMDs required to be made or that begin in 2020 are waived. Calendar year 2020 is disregarded for distributions that are being made under the 5-year rule. Learn more about the the CARES Act here. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Level 15

I'm over 72 and retired. I understand for 2020 I do not have to complete my RMD for this year. True?

Correct.  The CARES act eliminated the 2020 RMD requirement.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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Level 1

I'm over 72 and retired. I understand for 2020 I do not have to complete my RMD for this year. True?

Thank You. With market so far down, I would prefer not to have to withdraw, unless absolutely necessary. 

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