Text of Circular Letter 2020-23: Special Distributions from Qualified Retirement Plans and Individual Retirement Accounts

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Text of Circular Letter 2020-23: Special Distributions from Qualified Retirement Plans and Individual Retirement Accounts
Puerto Rico Departamento De Hacienda

[Official Guidance]
Mar. 30, 2020

"The [Puerto Rico Department of the Treasury] determines that, for the purposes of the Special Disaster Distributions established in CC RI 20-09, any expenses incurred to correct losses or damages suffered and extraordinary and unforeseen expenses to cover basic needs as a consequence of the emergency declared by COVID-19 including the loss of income due to the curfew declared by the Governor, will be considered as Eligible Expenses. Therefore, a distribution that meets the requirements established in CC RI 20-09 and that is used to defray the expenses indicated above related to the Coronavirus emergency, will be considered a Special Disaster Distribution. This determination, like CC RI 20-09, applies to residents of the 78 municipalities of Puerto Rico." MORE >>

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