The postponement comes less than a week after the Masters, scheduled to be held April 9-12 in Augusta, Ga., was also postponed.
The RBC Heritage, traditionally played the week after the Masters, has been removed from the 2020 schedule along with the Zurich Classic of New Orleans, the Wells Fargo Championship at Quail Hollow, and the AT&T Byron Nelson at Trinity Forest in Dallas.
Waugh added that his organization was working with PGA Tour Commissioner Jay Monahan and San Francisco Mayor London Breed to find "a date this summer when it is once again safe and responsible" to hold the tournament.
After days of speculation that the PGA of America, which organises the USPGA, was considering switching May's tournament from San Francisco's TPC Harding Park to Sawgrass, in Florida - where the Players Championship was cancelled after just 18 holes on Friday.
Ultimately, the health and well-being of everyone associated with these events and the citizens of the Augusta community led us to this decision. He plays on PGA Tour Latinoamérica.
A statement from the PGA revealed that the event would be delayed due to the COVID-19 outbreak in US.
World number 1 and reigning FedEx Cup champion Rory McIlroy is one of them.
The next scheduled event on the PGA Tour schedule is the Charles Schwab Challenge now set to begin on May 21.
The PGA of America and the Team Europe Tour, however, both tweeted that reports of postponement were "inaccurate".
In a nasty twist of fate, such a move may now mean we could miss out on all four of the world's top golfing tournaments as the coronavirus pandemic shows little sign of abating any time soon.
"This is a temporary measure but one we feel is proportionate in the current circumstances".
5th March - The MENA Tour have announced that the rest of their season's tournaments will be postponed until September - December.