If you don’t want to take a Required Minimum Distribution from your IRA/401K/403B in 2020, then you don’t have to. Nothing special to do – just don’t take the money out of your retirement plan.
You still should consider making Qualified Charitable Distributions from your retirement plan (giving money directly from the retirement plan to charity) since this is one of the only ways to take money out of these plans tax-free.
Since you are not required to take RMDs, you will have a lower overall income and might be in the lowest tax bracket of the remainder of your life and might want to consider rolling money from your retirement plan to a Roth IRA this year (voluntarily paying tax on the retirement distribution in a low-tax year to avoid ever having to pay tax on the money or the earnings again). Ask us if you are a good candidate for this.
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