Instructions For Form 8930 - 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
affected by the Midwestern severe
A qualified pension, profit-sharing, or
storms, tornadoes, or flooding, and you
stock bonus plan (including a 401(k)
received a distribution that qualified for
You cannot take a qualified
favorable tax treatment. See Table 1 on
disaster recovery assistance
A qualified annuity plan.
page 4 for the Midwestern disaster areas.
distribution after 2009.
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
disaster recovery assistance distributions,
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,
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


00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Page of 4