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IRS Issues Draft Instructions for Reporting Qualified Disaster Retirement Plan Distributions and Repayments

The Internal Revenue Service (IRS) has released draft Instructions for Form 8915-F, Qualified Disaster Retirement Plan Distributions and Repayments. Form 8915-F is used to report certain qualified disaster distributions and repayments of qualified disaster distributions, including 2021 and later disasters. IRS notes in the “What’s New” section of the instructions that IRA naming conventions have been clarified so that references to traditional IRAs include traditional SEP and traditional SIMPLE IRAs, and references to Roth IRAs include Roth SEP and Roth SIMPLE IRAs. In addition, a new line 5a was added to designate the portion of distributions that are not attributable to qualified disaster distributions.

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