IRS extends deadlines for certain retirement plan and IRA transactions

On April 9, 2020, the Internal Revenue Service (IRS) released Notice 2020-23, which extends deadlines for certain actions that are otherwise due to be performed between April 1, 2020, and July 14, 2020, and sets the new due date for those actions as July 15, 2020. The IRS has the authority to grant these extensions pursuant to the March 13, 2020, presidential declaration of an emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. This is separate and distinct from relief provided under the CARES Act.

Read the ABA Retirement Funds Program Alert:IRS COVID deadline extensions 2020.04.21