Qualified 2018 Disaster Retirement Plan Distributions and Repayments, Form 8915-C

Form 8915-C helps individuals affected by qualified 2018 disasters claim tax benefits on early retirement plan withdrawals and report any repayments they made.

What is Form 8915-C?

This IRS form allows individuals impacted by a presidential-declared disaster in 2018 to report:

  • Qualified disaster distributions: Early withdrawals from eligible retirement plans made to cover disaster-related expenses.
  • Repayments of these distributions: Amounts deposited back into the plan within the designated timeframe.

Key points to remember:

Eligibility: You qualify if you lived or worked in a presidentially-declared disaster area in 2018 and incurred unreimbursed disaster-related expenses.

Qualified expenses: Include necessary repairs to your primary residence, replacement of essential personal belongings, and medical and funeral expenses for yourself or immediate family.

Tax benefits: Qualified distributions are generally tax-free in the year received, but you must report them on Form 8915-C.

Repayment option: You have 3 years from the distribution date to repay any or all of the amount, reducing your taxable income for the repayment year.

Deadline to file: Form 8915-C is attached to your regular tax return (Form 1040, 1040-SR, or 1040-NR) due on April 15th of the following year (with extensions).