H.R. 3741 — Disaster Victims' Savings Access Act

Summary

Disaster Victims' Savings Access Act - Amends the Internal Revenue Code to: (1) exempt from the penalty for premature distributions from a tax-qualified retirement plan a one-time distribution made to an employee living and working in a county enumerated in a presidentially declared disaster or emergency; (2) allow such distribution to be spread evenly in income over a five-year period for income tax purposes; and (3) allow survivors of disasters to make catch-up contributions to retirement plans.

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Related Legislation

H.R. 3733Emergency Savings Relief Act of 2005
2005-09-13Referred to the House Committee on Ways and Means.
Related
H.R. 3742To amend the Internal Revenue Code of 1986 to allow withdrawals from individual retirement plans without penalty by individuals within areas determined by the President to be disaster areas by reason of certain natural disasters.
2005-09-13Referred to the House Committee on Ways and Means.
Related
H.R. 3751Retirement Account Emergency Access Act of 2005
2005-09-13Referred to the House Committee on Ways and Means.
Related
H.R. 3759To amend the Internal Revenue Code of 1986 to allow withdrawals from qualified retirement plans without penalty by individuals within areas determined by the President to be disaster areas by reason of Hurricane Katrina.
2005-09-13Referred to the House Committee on Ways and Means.
Related

Legislative Actions

2005-09-13
Introduced in House
2005-09-13
Introduced in House
2005-09-13
Referred to the House Committee on Ways and Means.

Disaster Victims' Savings Access Act

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