August 31 – The Deadline for Rolling Back RMDs into Retirement Accounts

President Trump officially signed the CARES Act on March 27, 2020. The Act allows retirement plan owners to skip taking their Required Minimum Distributions (RMDs) in 2020, if they so choose. This is intended to benefit those who are in a good financial position and do not need to take their RMDs during these unsettling times. What about those who already had taken their RMDs for 2020?