To amend the Internal Revenue Code of 1986 to provide that withdrawals from section 401(k) and similar plans by victims of Presidentially declared disasters shall not be includible in gross income and shall not be subject to the additional tax on early distributions.
Retirement Account Emergency Access Act of 2005 - Amends the Internal Revenue Code to exclude from gross income distributions from certain tax-qualified retirement plans to individuals residing in federally-declared disaster areas. Allows such distributions to be recontributed to retirement plans within five years of an initial distribution.
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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