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Can coronavirus distributions be repaid?

Answered by: 

Question: 
How many recontributions can be made on the coronavirus distribution from IRA?
Answer: 

The customer can repay a distribution in as many repayments as he or she likes in three years. A recontribution of a coronavirus-related distribution will not be treated as a rollover contribution for purposes of the one-rollover-per-year limitation under § 408(d)(3)(B).

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Learn more about Deborah Crawford’s webinar Alert! IRA Changes and Clarifications from the IRS under CARES Act

First published on 07/12/2020

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