Retirement Plan Disaster Assistance May Be Available for Several Disasters
The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on July 22, 2025, for the following disasters.
New Mexico severe storms, flooding and landslides, for the incident period of June 23, 2025 and continuing.
Missouri severe storms and flooding, for the incident period of May 23, 2025 – May 26, 2025.
West Virginia severe storms, straight-line winds, flooding, landslides and mudslides, for the incident period of June 14, 2025 – June 15, 2025.
Kansas severe storms, straight-line winds, tornadoes and flooding, for the incident period of May 18, 2025 – May 19, 2025.
Indiana severe storms, straight-line winds, tornadoes and flooding, for the incident period of March 30, 2025 – April 9, 2025.
Oregon severe storms, flooding, landslides, and mudslides for the incident period of March 13, 2025 – March 20, 2025.
Michigan severe winter storm, for the incident period of March 28, 2025 – March 30, 2025.
For a limited period following a disaster declaration, eligible IRA owners and employer plan participants may take qualified disaster recovery distributions and recontribute qualified home purchase distributions that they recently received. In addition, plan participants may qualify for plan loan relief and additional hardship distributions.
Visit the Ascensus and FuturePlan disaster relief resource for more information.
Additional IRS Deadline Relief May Be Provided Later
The IRS may also issue relief related to this disaster for certain tax-related deadlines. Additional information can be found at the IRS Tax Relief in Disaster Situations website and will be announced here if such relief is granted.
Taxpayers should review the IRS’ disaster relief frequently asked questions and Form 8915-F, Qualified Disaster Retirement Plan Distributions and Repayments and its instructions, in addition to consulting with their tax advisor to understand the impact of the various disaster related options on their own situation.
