CARES Act Loans/Withdrawal options = REDEPLOYMENT of Assets?

[Naomi Hanson]

Have any of you been thinking of utilizing the new rules (if you qualify) to deploy retirement assets from existing 401(k)/457/401(a or b) into SDIRA or SOLO401(k)? CARES act allows for distributions up to $100K with NO 10% penalty nor mandatory 20% withdrawal. This new provision, if your plan allows it, enables a person to pull money from their existing retirement plan and either pay it back over three years or pay taxes over that same period of time. NOL can be used at the end of that time frame to reduce tax liability. At the same time, the new regulations allow for the ability to put the money back into another pre-tax account like the SDIRA. Anyone considering how they can use the new rules ( as long as you meet the COVID 19 eligibility requirements) to redeploy assets so they have more retirement assets available for REI?