Coronavirus-Related Distributions. (CRDs) – If you qualified in 2020, you were able to withdraw up to $100,000 in aggregate from your IRAs and eligible retirement plans as a CRD, without paying the 10 percent early distribution penalty tax. You were a qualified individual if you (or your spouse or dependent) was diagnosed with the COVID-19 disease or the SARS-CoV-2 virus in an approved test; or if you experienced adverse financial consequences as a result of being quarantined, being furloughed or laid off or having work hours reduced due to such virus or disease, being unable to work due to lack of child care due to such virus or disease, closing or reduced hours of a business owned or operated by you due to such virus or disease, or other factors as determined by the IRS. A CRD must have been made on or after January 1, 2020, and before December 31, 2020.
Appears in 7 contracts
Samples: Roth Individual Retirement Custodial Account Agreement, Individual Retirement Trust Account Agreement, Roth Individual Retirement Trust Account Agreement
