February 2, 2006 – The IRS has issued the much-anticipated new taxpayer form related to recent hurricanes, Form 8915, Qualified Hurricane Retirement Plan Distributions and Repayments. Instructions are self-contained within this form. As its title suggests, the form will be used by taxpayers to report certain distributions from IRAs and employer-sponsored retirement plans, up to $100,000 of which may be exempt from an early distribution tax if certain requirements are met. Taxation of qualifying amounts may be spread over three years. Repayments, also eligible to be made over three years, are accounted for on this form, as well.
Form 8915 may be accessed as follows.