No Penalties for Victims of Fraud Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsor
- 1
- Latest action
- Mar 14, 2025
What it does
The No Penalties for Victims of Fraud Act would amend the Internal Revenue Code to waive early withdrawal penalties from retirement accounts for individuals who are victims of fraud, provided they submit documentation from a law enforcement agency or court confirming the fraud and are designated as such by the Secretary of the Treasury. The waiver applies to distributions from eligible retirement plans (excluding defined benefit plans) made after the bill’s enactment, and allows the distributed amount to be repaid under rules similar to existing provisions. The bill also requires the Treasury Secretary to issue guidance within 180 days and launch a public awareness campaign to inform…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.