Demystifying the CARES Act Webinar - April 3, 2020 CARES Act Webinar – BD 4.3.2020 | Page 7

INDIVIDUAL TAX PROVISIONS
Retirement Plan Relief
• Waives the 10% early distribution penalty on withdrawals
up to $100,000 from qualified retirement accounts for
COVID-19 related purposes
Income subject to tax over 3 years or you can recontribute over 3
years without regard to income caps
• Suspend Required Minimum Distributions (RMDs) for 2020
• Pension plan funding relief
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