Under the CARE Act no RMD required for 2020.
From Fidelity website:
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, recently passed into law, includes a number of measures designed to stimulate the economy. One provision allows retirees to forgo taking Required Minimum Distributions (RMDs) from IRAs or 401(k)-type plans this year.
RMD amounts are based on the value of the account at the end of the previous year. “Because most accounts have seen a steep decline in 2020, the amount of the required withdrawal would have been a much larger percentage of a retiree’s account,” explains Rob Williams, VP of financial planning, retirement income and wealth management at the Schwab Center for Financial Research (SCFR). “The new law lets retirees keep that money in their accounts, potentially recouping some of the market losses when the economy turns around.”
https://www.schwab.com/resource-center/insights/content/can-you-forgo-taking-rmds-2020
= new reply since forum marked as read
As soon as the act passed I asked Vanguard why they do not notify us and they said that: "some people need it for a living." Or something. So I responded that, sure, many do, I will still take out some but why not alert the ones who do not follow? Who, unlike myself, did not contact their members of Congress asking for this?
