COVID Retirement Distribution (2020 Only): How To Qualify

CARES Act

CARES Act relief, you qualify for a coronavirus-related distribution if

• you, your spouse, or your dependent is diagnosed with COVID-19 with a CDC-approved test;

• you experience adverse financial consequences as a result of being quarantined, being furloughed or laid off, or having work hours reduced due to COVID-19;

• you experience adverse financial consequences as a result of being unable to work due to lack of childcare due to COVID-19; or

• you experience adverse financial consequences as a result of closing or reducing your business hours due to COVID-19.

IRS Expands Relief

With the new IRS relief, you now also qualify for coronavirus-related distributions if you experience adverse financial consequences because

• you, your spouse, or a member of your household has a reduction in pay or self-employment income due to COVID-19;

• you, your spouse, or a member of your household has a job offer rescinded or start date for a job delayed due to COVID-19;

• your spouse or a member of your household is quarantined, is furloughed or laid off, or has work hours reduced, due to COVID-19;

• your spouse or a member of your household is unable to work due to lack of childcare due to COVID-19; or

• your spouse or a member of your household owns or operates a business that closed or reduced hours due to COVID-19.