What the act says about required minimum distributions (RMDs)

Frequently Asked Questions

To help provide relief for individuals required to take RMDs, the CARES Act has waived the requirement to take required minimum distributions. It allows participants to cancel 2020 RMD payments and restart them in 2021.
They have the flexibility to cancel it for 2020 or repay it if one has already been received. This can be done by logging in to their account on and visiting the Manage Transactions page. TIAA will restart recurring payments automatically in 2021.
In this situation, they have the option to repay it back into a plan that accepts rollovers or into an IRA. They have 60 days to rollover those funds.
RMDs are not required for 2020 and may not be requested per the CARES Act legislation. However, participants may be able to take a cash withdrawal per their plan's rules by logging in to their account on, clicking on ‘Actions’ and then selecting ‘Start a Loan/Withdrawal.’