TOPIC: Coronavirus

CARES Act RMD Waiver

AVP at a bank ($809MUSA)
For those of you that had filed the 5498s by the May deadline prior to the IRS extending the deadline to August, if you had marked that an RMD was required, how are you handling the scenario?

We have sent a letter to notify our customers they no longer have an RMD for 2020 but haven't amended those 5498s as of yet. We have spoken with our consultant and they have stated the IRS hasn't released guidelines to that issue, but that they would recommend amending all of the 5498s that had RMD required noted, even though we have notified the customers of the waiver. 

What is your institution doing for those 5498s?

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      Delay in Recording Automobile Liens During COVID

      VP at a credit_union ($1.3BUSA)
      Our institution is revising some of our loan operating controls and procedures during COVID.  Given some state DMV offices being closed during the initial phase of COVID and some operating with reduced workforces, there has been a delay in getting liens on auto recorded and the titles being returned to us.  Have your institutions adopted any additional measures to compensate for this exposure period? 

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          Covid 19 Symptoms - Employee Guidance

          CIO at a bank ($305MUSA)
          What do you consider symptoms of Covid which would require and employee to be sent home?
          What do you consider symptoms for in which you ask and employee to visit a healthcare provider before returning to work?
          I have printed the Covid 19 Decision Matrix provided in the group but it doesn't address my question totally.

          Example:  Employee calls in with a sinus headache and sore throat (no fever) and is not aware of being in contact with anyone who is positive.

          Do you require them to visit a doctor before returning to work?
          Do you require them to be symptom free for x number of days before returning?
          Do you require them to stay out for 14 days if they do not visit a doctor?  If so, is that paid leave under the CARES act?

          There are so many symptoms listed for this virus that cross over to other illnesses, how do you differentiate?