COVID-19: Our Response

COVID-19: Our Response

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Employee Benefits IconImpact of the CARES Act for IRAs

The CARES Act brought changes for 2020 that could affect your IRA plan.

The changes include:

  • Required Minimum Distributions (RMDs) may be waived for 2020
  • Tax relief applies to coronavirus-related distributions, for those that qualify
    For more information, review the following FAQs or contact Wealth Management!

IRA CARES Act FAQs    Wealth Management

The Commercial & Savings Bank (CSB) recommends you consult your tax accountant and/or legal advisor for specific advice on CARES Act changes and your IRA.