On June 19, 2020, the IRS issued Notice 2020-50, which provides additional guidance pertaining to coronavirusrelated distributions and qualified plan loans made pursuant to the CARES Act enacted on March 27, 2020, as well as deferral elections made with respect to nonqualified deferred compensation plans for the 2020 calendar year [see legal update]. Please note that the CARES Act is a new law and agency guidance continues to be issued. Therefore, you may want to seek advice of counsel with respect to these issues.
Please see full publication below for more information.