Instructions For Form 8930 - 2010 printable pdf download

2010

Department of the Treasury

Internal Revenue Service

Instructions for Form 8930

Qualified Disaster Recovery Assistance Retirement Plan

Distributions and Repayments

income in the year of the distribution. Any

excess of $100,000 from more than one

Section references are to the Internal

repayments made before you file your

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

Revenue Code unless otherwise noted.

return and by the due date (including

IRA, you could have allocated the

General Instructions

extensions) reduce the amount of the

$100,000 limit among the plans any way

distribution included in your income.

you chose.

Purpose of Form

Also, qualified disaster recovery

Eligible retirement plan. An eligible

assistance distributions are not subject to

retirement plan can be any of the

Use Form 8930 if you were adversely

the additional 10% tax on early

following.

affected by the Midwestern severe

•

A qualified pension, profit-sharing, or

distributions.

storms, tornadoes, or flooding, and you

stock bonus plan (including a 401(k)

received a distribution that qualified for

You cannot take a qualified

plan).

favorable tax treatment. See Table 1 on

disaster recovery assistance

•

A qualified annuity plan.

page 4 for the Midwestern disaster areas.

distribution after 2009.

•

CAUTION

A tax-sheltered annuity contract.

Parts I and II

•

A governmental section 457 deferred

Qualified Disaster

compensation plan.

Use Parts I and II to:

•

Recovery Assistance

A traditional, SEP, SIMPLE, or Roth

Report any repayments of qualified

IRA.

disaster recovery assistance distributions,

Distribution

and

Distribution of plan loan offsets. A

•

Figure the taxable amount, if any, of

A qualified disaster recovery assistance

distribution of a plan loan offset is a

your qualified disaster recovery

distribution is any distribution you

distribution that occurs when, under the

assistance distributions.

received on or after the applicable

terms of a plan, the participant’s accrued

disaster date (see Table 1 on page 4) in

Note. Distributions from retirement plans

benefit is reduced (offset) in order to

2008 or 2009 from an eligible retirement

repay a loan. A distribution of a plan loan

(other than IRAs) are reported in Part I

plan if both of the following conditions

offset amount can occur for a variety of

and distributions from IRAs are reported

were met.

reasons, such as when a participant

in Part II.

terminates employment or does not

1. Your main home was located in a

Additional Information

comply with the terms of repayment. Plan

Midwestern disaster area on an

loan offsets are treated as actual

applicable disaster date (see Table 1 on

See Pub. 4492-B, Information for Affected

distributions and are reported on Form

page 4).

Taxpayers in the Midwestern Disaster

1099-R, box 1.

2. You sustained an economic loss

Areas, for more details.

because of the severe storms, tornadoes,

Main home. Generally, your main home

Who Must File

or flooding in the disaster area in which

is the home where you live most of the

your main home was located. Examples

time. A temporary absence due to special

File Form 8930 if any of the following

of an economic loss include, but are not

circumstances, such as illness, education,

apply.

limited to (a) loss, damage to, or

business, military service, evacuation, or

•

You received a qualified disaster

destruction of real or personal property

vacation, will not change your main home.

recovery assistance distribution from an

from fire, flooding, looting, vandalism,

Additional tax. Qualified disaster

eligible retirement plan in 2009 that you

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

recovery assistance distributions were not

are including in income in equal amounts

related to displacement from your home;

subject to the additional 10% tax (or the

over 3 years.

or (c) loss of livelihood due to temporary

•

25% additional tax for certain distributions

You received a qualified disaster

or permanent layoffs.

from SIMPLE IRAs) on early distributions

recovery assistance distribution from an

and are not required to be reported on

eligible retirement plan in 2008 that you

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

Form 5329. However, any distributions

are including in income in equal amounts

generally designated any distribution in

you received in excess of the $100,000

over 3 years.

2008 or 2009 (including periodic

•

qualified disaster recovery assistance

You made a repayment of a qualified

payments and required minimum

distribution limit may have been subject to

disaster recovery assistance distribution

distributions) from an eligible retirement

the additional tax.

in 2010.

plan as a qualified disaster recovery

Note. If you chose to treat a distribution

assistance distribution, regardless of

When and Where To File

whether the distribution was made on

as a qualified disaster recovery

account of the severe storms, tornadoes,

assistance distribution, it is not eligible for

File Form 8930 with your 2010 Form

the 20% Capital Gain Election or the

or flooding in the Midwestern disaster

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

10-Year Tax Option. For information on

areas. Qualified disaster recovery

required to file an income tax return but

assistance distributions were permitted

those options, see the instructions for

are required to file Form 8930, sign Form

Form 4972.

without regard to your need or the actual

8930 and send it to the Internal Revenue

amount of your economic loss.

Service at the same time and place you

Repayment of a Qualified

would otherwise file Form 1040, 1040A,

A reduction or offset on or after the

or 1040NR.

applicable disaster date in 2008 or 2009

Disaster Recovery

of your account balance in an eligible

How Is a Qualified Disaster

Assistance Distribution

retirement plan in order to repay a loan

Recovery Assistance

also could have been designated as a

If you choose, you can generally repay

qualified disaster recovery assistance

any portion of a qualified disaster

Distribution Taxed?

distribution. See Distribution of plan loan

recovery assistance distribution that is

offsets later.

Generally, a qualified disaster recovery

eligible for tax-free rollover treatment to

Limit. The total of your qualified disaster

assistance distribution is included in your

an eligible retirement plan. Also, you can

income in equal amounts over 3 years.

recovery assistance distributions for 2008

repay a qualified disaster recovery

However, you could have elected to

and 2009 from all plans was limited to

assistance distribution made on account

include the entire distribution in your

$100,000. If you had distributions in

of hardship from a retirement plan.

Cat. No. 52382T

Instructions For Form 8930 - 2010

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