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May 11, 2021
Question

If you suspended the regular monthly payments from your IRA in 2020 because it was allowed because of COVID, are you still able to say you received regular payments?

  • May 11, 2021
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1 reply

macuser_22
Employee
May 11, 2021

Are you referring to the RMD provisions?

 

If you are taking Substantial and Equal Periodic Payments (SEPP) under section 72(t) from your IRA then that is NOT an RMD and was not affected or suspended by the CARES Act and not eligible for rollover.

**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.**