Required Minimum Distribution Updates

Market Perspectives June 2020
June 10, 2020
Market Perspectives July 2020
July 8, 2020

By: Ivan Lukic

New updates from the Internal Revenue Service regarding required minimum distributions, or RMDs.

On June 23rd, the IRS announced that everyone who already took their RMDs from selected retirement accounts on or after January 1, 2020 can return the money back, delaying taxes on that money. For all of those who wish to use this opportunity, the original 60-day rollover period has been extended to August 31st of 2020. This change applies to defined-contribution plans and does not apply to defined-benefit plans. To determine if you should take advantage of this situation, we recommend consulting your tax advisor. For more information please click here.


Ivan Lukic has an MBA from James Madison University and currently resides in Charlotte, NC.

Carolinas Investment Consulting is not affiliated with any of the websites linked in this commentary. Nothing contained herein constitutes financial, legal, tax, or other advice. The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Carolinas Investment Consulting. The information published herein is provided for informational purposes only, and does not constitute an offer, solicitation or recommendation to sell or an offer to buy securities, investment products or investment advisory services. All information, views, opinions and estimates are subject to change or correction without notice. The appropriateness of an investment or strategy will depend on an investor’s circumstances and objectives. These opinions may not fit to your financial status, risk and return preferences. Past performance is not indicative of future returns.

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