All 2020 RMDs are waived due to the Coronavirus (for defined contribution plans), regardless of whether or not you were affected by the Coronavirus. You may elect to receive your 2020 RMD, despite the waiver, if you are eligible for an RMD. 


You are eligible to receive an RMD if you are 72 years of age or older by year-end and you are either a) no longer employed by the organization sponsoring your Plan, or b) are a five or more percent owner of the organization or are related to a five or more percent owner of the organization (your spouse, child or parent). 


For tax years other than 2020 (where the RMD requirement has been waived), you are required to receive your RMD by December 31st each year that you are eligible for one. You may defer your very first RMD until April 1st the following year. However, you will be required to take two RMDs the following year, one by April 1st and one by December 31st.


If you received your 2020 RMD already (for a defined contribution plan) and wish to return the distribution, you have until August 31, 2020 to do so. This will be treated as a rollover and can be made into the issuing plan or another qualified retirement plan or IRA (does not count toward your annual IRA rollover limit). Please contact the Support Department to arrange for a rollover of your RMD amount back into your retirement account.