60-day rollover waiver

[B21]

The Secretary of the Treasury has the authority to waive the 60-day participant rollover deadline in the event of a federally declared disaster, such as, the corona virus.

Any word of this being part of any kind of relief bill? 

I'm a TPA & it's been asked if an individual could receive a 401k or IRA distribution at this time & then rollover to an IRA or qualified plan later even if after the 60-day deadline. 

[Larry Starr]

Haven't heard this one as a proposed provision, but I have not actually had time to review the proposed legislation; I usually like to wait to review until AFTER the legislation is passed.

[Peter Gulia]

The pending legislation includes a defined term for a coronavirus distribution, and for it includes a recontribution/rollover provision similar to other disasters' provisions in recent years.