Beginning in 2021, Form 8915-F is used for disaster-related distributions from retirement accounts as well as repayments of distributions, both for the current year as well as prior years. Form 8915-F must be filed if either of the following apply:
- For tax years after 2020, the taxpayer resided in an area designated by FEMA as a disaster area and took a qualified disaster distribution from a retirement plan. Two points to note:
- When entering the Form 1099-R that relates to the distribution, the taxable amount in Box 2a will be reduced by the portion related to the disaster. If the entire distribution was related to the disaster, then box 2a should be $0.
- If the taxpayer was under age 59-1/2 at the time of the distribution, the penalty on Form 5329 will be calculated based on the amount entered on Form 1099-R box 2a. If the entire distribution was related to the disaster, there is no penalty and Form 5329 isn't needed.
- The taxpayer took a retirement distribution in 2020 and elected to spread over 3 years using Form 8915-E. Form 8915-F is used in 2021 and 2022 to report the 1/3 taxable portion for those years.
- The taxpayer made a repayment of a qualified disaster distribution from 2020 or after.
Do not use Form 8915-F in these scenarios:
- To report qualified 2020 disaster distributions made or received in 2020 for 2020 disasters. Those are reported on the 2020 individual tax return using Form 8915-E.
- To report repayment of prior year disasters as listed below:
- 2017 Disaster repayments are reported on Form 8915-B.
- 2018 Disaster repayments are reported on Form 8915-C.
- 2019 Disaster repayments are reported on Form 8915-D.
Information regarding FEMA Declared Disasters can be found here.
Note: Some areas of the country may have experienced more than one disaster in a given year. Each Qualified FEMA Disaster has its own incident time period, declaration date, designated area, and closing date for claiming the disaster distribution.
Disaster distributions (2021 and forward)
Completing 8915-F for FEMA Qualified Distribution:
- Part I - Total Distributions
- Enter the FEMA Disaster Code
- Enter the date of the distribution
- Enter the distribution maximum limit
- Enter the distribution amount by type of plan
- Retirement Plan
- SEP, Simple IRA Plan
- Roth Distribution
- Indicate if the distribution is to be spread over 3 years
- Enter Repayments made prior to filing the 2021 tax return including extensions.
Disaster distributions (2020 only)
- Returning Client
- Select Income
- Select IRA/Pension Distributions (1099R, RRB-1099-R)
- Select the Other button
- Select Form 8915-F, selecting Taxpayer or Spouse as applicable
- The required information will be auto-populated including current year reportable distribution based on the taxpayers' 2020 return.
- New Client reported 2020 Disaster
- Follow above steps through Step 5.
- Part II - Retirement Plan Distributions
- Line 9 = 1/3 of the total distribution received from the retirement plan by the taxpayer in 2020.
- Line 10 = Repayments made prior to filing 2020 Tax Return and reported on the 2020 Return. This includes both payments made in 2020 and 2021 which were reported on the 2020 return. (Determining Repayment Period is based on the date the return is filed including extensions.)
- Part III - IRA's
- Line 17 = 1/3 of the total distribution from the IRA received by the taxpayer in 2020.
- Line 18 = Repayments made prior to filing 2021 tax return and reporting on the 2021 return. This includes both payments made in 2021 and 2022 which are being reported on 2021 tax return. (Determining Repayment Period is based on the date the return is filed including extensions.)
Additional Information: