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#2235991 - 04/30/20 04:41 PM 2020 Suspension of RMD
burkemi Offline
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Joined: Nov 2013
Posts: 549
In response to the IRS suspension of RMDs for 2020 we have notified our IRA customers of that ruling. Now a customer has called to ask if her RMD can be reversed. She is on automatic annual distribution. She receives her RMD on Jan 5 of each year, so she is well beyond any 60 day rollover option.

We have the capability to reverse the transaction as if it never occurred. Our reporting doesn't occur until year end, so no issues there. Is there a reason we shouldn't do this? Any thoughts would be greatly appreciated.
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#2235992 - 04/30/20 04:52 PM Re: 2020 Suspension of RMD burkemi
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,336
Galveston, TX
Recent article on the subject. It appears to be a wait and see game right now.

https://money.com/rmd-401k-roth-ira-requirements-2020/
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#2235995 - 04/30/20 05:27 PM Re: 2020 Suspension of RMD burkemi
burkemi Offline
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Joined: Nov 2013
Posts: 549
Thank you, Randy. Very informative article.
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