Retirement Plan Disaster Assistance May Be Available for Several States

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on May 21, 2025, for the following.

•    Iowa severe storm for the incident period March 19, 2025
•    Arkansas severe storms for the incident period April 2 – April 22, 2025
•    Oklahoma wildfires for the incident period March 14 – March 21, 2025
•    Missouri severe storms for the incident period March 14 – March 15, 2025
•    Nebraska severe storm for the incident period March 18 – March 19, 2025
•    Kansas severe storms for the incident period March 14 – March 19, 2025

For a limited period of time 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 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.