Bill
Bill > HR6335
US HR6335
To waive required minimum distribution rules for retirement plans in 2020.
summary
Introduced
03/23/2020
03/23/2020
In Committee
03/23/2020
03/23/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To waive required minimum distribution rules for retirement plans in 2020. This bill waives required minimum distributions from certain tax-exempt retirement plans for calendar year 2020.
AI Summary
This bill waives required minimum distributions (RMDs) from certain tax-exempt retirement plans, such as 401(k)s, 403(b)s, and individual retirement accounts (IRAs), for the 2020 calendar year. It also provides special rules to ensure that the waiver period is not counted towards the 5-year period for determining whether a distribution is an eligible rollover distribution. Additionally, the bill allows pension plans and annuity contracts to be amended to reflect these changes without failing to be treated as operating in accordance with the plan's terms, as long as the amendments are made by the end of the first plan year beginning on or after January 1, 2022 (or 2023 for governmental plans), and the plan or contract operates in accordance with the amendments during the period from the effective date of the amendment to December 31, 2020.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to the House Committee on Ways and Means. (on 03/23/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/6335/all-info |
| BillText | https://www.congress.gov/116/bills/hr6335/BILLS-116hr6335ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr6335/BILLS-116hr6335ih.pdf.pdf |
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