The CARES Act: Year-end and beyond

¹You are a qualified individual if:

• You, your spouse, or your dependent (as defined in Internal Revenue Code section 152) is diagnosed with the virus SARS-CoV-2 or with coronavirus disease 2019 (both referred to as “COVID -19”) by a test approved by the Centers for Disease Control and Prevention (including a test authorized under the Federal Food, Drug, and Cosmetic Act); or
• You have experienced adverse financial consequences because:

a. you, your spouse, or a member of your household was quarantined, furloughed or laid off, or had work hours reduced due to COVID-19;
b. you, your spouse, or a member of your household was unable to work due to lack of childcare due to COVID-19;
c. a business owned or operated by you, your spouse, or a member of your household closed or reduced hours due to COVID-19; or
d. you, your spouse, or a member of your household had a reduction in pay (or self-employment income) due to COVID-19 or had a job offer rescinded or start date for a job delayed due to COVID-19.

Note: A “member of your household” is someone who shares your principal residence.

For plan sponsor use only and investment professional use.

Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.

Version – November 12, 2020