fbpx

< Back to Thought Leadership

Most Required Minimum Distributions Waived for 2020

Did you know that as of March 27, 2020, most Required Minimum Distributions (RMDs) were waived for the 2020 calendar year? That means that if you normally take an RMD from your IRA or business retirement plan, except for pension plans, you are not required to take that distribution for 2020.

In most cases, if you depend on your regular RMD for income, you are still able to request to take the same distribution amount. It just is not required for 2020.

Did you take a scheduled distribution early in the year before the waiver was passed? The IRS is permitting anyone who has taken an RMD so far in 2020 and really does NOT want that taxable distribution for 2020, to re-deposit that withdrawal as a rollover contribution as long as it is done before August 31, 2020.

Changes in your income due to the change in RMD requirements for 2020 may require some additional tax planning. To get more details about waived RMDs, discuss your current situation, or schedule an appointment for tax planning, please contact your local Blue & Co. advisor.

Photo of M. Jane Shawver | Jane Shawver Named President of Blue Benefits Consulting

Jane Shawver Named President of Blue Benefits Consulting

COLUMBUS, Ohio. (July 1, 2025) – Blue & Co., LLC and Blue Benefits Consulting, Inc. are delighted to share that M. Jane Shawver, QKC, QKA, has been named President of […]

Learn More
Blue & Co. Expands Presence with New Office in Chattanooga, Tennessee | BB Kings | Nashville, Tennessee | Knoxville, Tennessee | Chattanooga, Tennessee

Blue & Co. Expands Presence with New Office in Chattanooga, Tennessee

CHATTANOOGA, Tennessee (July 1, 2025) — Blue & Co., a leading accounting and advisory firm, is proud to announce the grand opening of its newest office in Chattanooga, Tennessee. This […]

Learn More
Wage Index Timeline Blog Post | Doctor typing on tablet at desk

Wage Index Timeline: Mid-Year Update and Looking into 2026

As we head into the second half of the 2025 calendar year, there are a few major dates that you need to be aware of for wage index purposes. These […]

Learn More