The CARES Act waives the requirement that taxpayers take RMDs for 2020 from IRAs, 401(k) plans and other defined contribution plans. Taxpayers who already took 2020 RMDs may be able to roll them over to their other retirement plans or IRAs and avoid paying income tax on the distributions. There are important timing requirements and deadlines however. IRS Notice 2020-51 explains that taxpayers who already took RMDs for 2020 must roll them over no later than August 31, 2020.