An Update on Coronavirus Distributions From 401(k) Plans and IRAs – Daily Flash Briefing

June 24, 2020 by Bautis Financial

Individuals impacted by the COVID-19 pandemic are eligible to take a distribution from their 401(k) or IRA by the end of the year. Here's what this means for you.

The IRS released guidance this week, bradening the number of people who can take COVID-19-related distributions from 401(k) plans and IRAs. As part of the CAREs Act released in March, individuals who are impacted by the coronavirus are eligible to take a $100,000 distribution from their 401(k) or IRA by December 31, 2020. Listen for more.

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