The CARES Act (Coronavirus Aid, Relief and Economic Security Act) signed into law March 27, 2020 includes a provision suspends the Required Minimum Distribution (RMD) for all of 2020. A similar law was passed during the financial crisis 2009. This means that persons over 70.5 (72 as of 1/1/2020) will not be forced to sell depressed assets in order to fund their RMD.
If one has taken a RMD in the last 60 days there is an IRS rule that allows one to roll it over into a retirement account without penalty; this could be the same account or a different account. Currently if one took a distribution more than 60 days ago and one has not been impacted by the coronavirus, one doesn’t have this privilege. Some believe that the IRS might issue a rule that would allow this privilege for earlier withdrawals. Those with inherited IRAs do not have this rollover privilege but they, too, do not need to take a distribution in 2020.
This information is shared because it may impact how one chooses to make donations in 2020. As with all such matters, please consult a tax professional to make the best-informed personal decisions.