Looking for a U.s. Department Of The Treasury Forms And Templates? Download it for free!

2012

Department of the Treasury

Internal Revenue Service

Instructions for Form 8930

Qualified Disaster Recovery Assistance Retirement Plan

Distributions and Repayments

include the entire distribution in your

also could have been designated as a

Section references are to the Internal Revenue

Code unless otherwise noted.

income in the year of the distribution. Any

qualified disaster recovery assistance

repayments made before you file your

distribution. See Distribution of plan loan

General Instructions

return and by the due date (including

offsets, later.

extensions) reduce the amount of the

Limit. The total of your qualified disaster

distribution included in your income.

Future Developments

recovery assistance distributions for 2008

and 2009 from all plans was limited to

Also, qualified disaster recovery

For the latest information about

$100,000. If you had distributions in

assistance distributions are not subject to

developments related to Form 8930 and

excess of $100,000 from more than one

the 10% additional tax on early

its instructions, such as legislation

type of plan, such as a 401(k) plan and an

distributions.

enacted after they were published, go to

IRA, you could have allocated the

You cannot take a qualified

$100,000 limit among the plans any way

disaster recovery assistance

you chose.

Purpose of Form

distribution after 2009.

CAUTION

Eligible retirement plan. An eligible

Use Form 8930 to report repayments of

retirement plan can be any of the

qualified disaster recovery assistance

Qualified Disaster

following.

distributions made in 2012 that were not

Recovery Assistance

A qualified pension, profit-sharing, or

included on your 2011 Form 8930.

Distribution

stock bonus plan (including a 401(k) plan).

Parts I and II

A qualified annuity plan.

A qualified disaster recovery assistance

Use Part I to report any repayments of

A tax-sheltered annuity contract (a

distribution is any distribution you received

qualified disaster recovery assistance

403(b) plan).

on or after the applicable disaster date

distributions from retirement plans (other

A governmental section 457 deferred

(see Table 1, later) in 2008 or 2009 from

than IRAs).

compensation plan.

an eligible retirement plan if both of the

A traditional, SEP, SIMPLE, or Roth

following conditions were met.

Use Part II to report any repayments of

IRA.

qualified disaster recovery assistance

1. Your main home was located in a

Distribution of plan loan offsets. A

distributions from IRAs.

Midwestern disaster area on an applicable

distribution of a plan loan offset is a

disaster date (see Table 1, later).

Additional Information

distribution that occurs when, under the

2. You sustained an economic loss

terms of a plan, the participant's accrued

See Pub. 4492-B, Information for Affected

because of the severe storms, tornadoes,

benefit is reduced (offset) in order to repay

Taxpayers in the Midwestern Disaster

or flooding in the disaster area in which

a loan. A distribution of a plan loan offset

Areas, for more details.

your main home was located. Examples of

amount can occur for a variety of reasons,

an economic loss include, but are not

such as when a participant terminates

Who Must File

limited to (a) loss, damage to, or

employment or does not comply with the

destruction of real or personal property

File Form 8930 if you made a repayment

terms of repayment. Plan loan offsets are

from fire, flooding, looting, vandalism,

of a qualified disaster recovery assistance

treated as actual distributions and are

theft, wind, or other cause; (b) loss related

distribution in 2012 that was not included

reported on Form 1099-R, box 1.

to displacement from your home; or (c)

on your 2011 Form 8930.

loss of livelihood due to temporary or

Main home. Generally, your main home

permanent layoffs.

When and Where To File

is the home where you live most of the

time. A temporary absence due to special

If (1) and (2) applied, you could have

File Form 8930 with your 2012 Form 1040,

circumstances, such as illness, education,

generally designated any distribution in

1040A, or 1040NR. If you are not required

business, military service, evacuation, or

2008 or 2009 (including periodic

to file an income tax return but are

vacation, will not change your main home.

payments and required minimum

required to file Form 8930, sign Form 8930

Additional tax. Qualified disaster

distributions) from an eligible retirement

and send it to the Internal Revenue

recovery assistance distributions were not

plan as a qualified disaster recovery

Service at the same time and place you

subject to the 10% additional tax (or the

assistance distribution, regardless of

would otherwise file Form 1040, 1040A, or

whether the distribution was made on

25% additional tax for certain distributions

1040NR.

account of the severe storms, tornadoes,

from SIMPLE IRAs) on early distributions

How Is a Qualified

or flooding in the Midwestern disaster

and are not required to be reported on

Form 5329. However, any distributions

areas. Qualified disaster recovery

Disaster Recovery

you received in excess of the $100,000

assistance distributions were permitted

Assistance Distribution

qualified disaster recovery assistance

without regard to your need or the actual

Taxed?

amount of your economic loss.

distribution limit may have been subject to

the additional tax.

Generally, a qualified disaster recovery

A reduction or offset on or after the

assistance distribution is included in your

applicable disaster date in 2008 or 2009 of

Note. If you chose to treat a distribution

income in equal amounts over 3 years.

your account balance in an eligible

as a qualified disaster recovery assistance

However, you could have elected to

retirement plan in order to repay a loan

Nov 11, 2012

Cat. No. 52382T

Instructions For Form 8930 - Qualified Disaster Recovery Assistance Retirement Plan Distributions And Repayments - 2012

Related Articles

Related forms

Related Categories