News & Analysis as of

Loans Natural Disasters

Ballard Spahr LLP

National Flood Insurance Program to Expire on Sept. 30

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The National Flood Insurance Program’s authorization to issue new flood insurance contracts will expire on Sept. 30 unless Congress votes to extend it. Congress has been unable to enact a long-term extension of parts of the...more

Morrison & Foerster LLP - MoFo+

Fall 2018 Helping Handbook

This handbook provides an overview of some issues that individuals, families, and small businesses may face as a result of the fires that broke out in Northern and Southern California in the fall of 2018. While fires...more

McDermott Will & Emery

New Hurricane Legislation Grants Additional Distribution, Withdrawal and Loan Relief for Certain Retirement Plan Participants

McDermott Will & Emery on

The new Disaster Tax Relief and Airport and Airway Extension Act of 2017 provides additional relief and flexibility for retirement plan participants impacted by recent hurricanes, including relaxed rules for plan...more

Morrison & Foerster LLP

Helping Handbook for Those Affected by Northern California Wildfires

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This handbook provides an overview of some of the issues that individuals, families, and small businesses may face as a result of the wildfires that swept Northern California in October 2017. Please note that this handbook...more

Bradley Arant Boult Cummings LLP

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part III

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing property damage and applying insurance proceeds in compliance with the terms of the standard mortgage...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Relief for Hurricane Victims

Thanks to the damage caused by Hurricane Harvey and Hurricane Irma, the Internal Revenue Service (IRS), Department of Labor (DOL), and the Pension Benefit Guaranty Corporation (PBGC) have granted extensions of certain...more

Pillsbury Winthrop Shaw Pittman LLP

Internal Revenue Service Provides Helpful Relief to Hurricane Victims

Announcement 2017-11 (Announcement) provides that a tax-qualified employer retirement plan may treat a distribution to a current or former employee covered by the Announcement as on account of hardship or an unforeseeable...more

Bracewell LLP

Hurricane Harvey Relief for Employees

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Following Hurricane Harvey and its resulting destruction, many employees are in need of financial assistance and/or early access to retirement funds. We will highlight how employers can make direct financial assistance...more

McAfee & Taft

IRS announces special relief to help victims of Hurricane Harvey

McAfee & Taft on

Last week the IRS announced that 401(k) plans and certain similar employer-sponsored retirement plans can make loans and hardship distributions to help victims of Hurricane Harvey....more

Jackson Walker

IRS Provides for Expedited Loans and Hardship Distributions from Retirement Plans

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The IRS announced last week that it will allow victims of Hurricane Harvey and their families to more easily access assets held in employer-sponsored retirement plans. Specifically, the IRS will allow certain retirement plans...more

Jackson Walker

Hurricane Harvey & FEMA Assistance Program

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Our deepest sympathy goes out to everyone affected by Hurricane Harvey and the devastation it caused. For our clients, colleagues, and any others who may have been affected, we have put together some information about...more

Kilpatrick

IRS Allows Easier Access to Retirement Funds for Hurricane Harvey Victims

Kilpatrick on

The IRS issued an announcement that may allow participants and beneficiaries of 401(k) plans or 403(b) plans that have been affected by Hurricane Harvey easier access to their retirement funds until January 31, 2018. ...more

Ballard Spahr LLP

IRS Eases Rules for Plan Loans and Hardship Distributions After Hurricane Harvey

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The IRS has released Announcement 2017-11 to provide relief to taxpayers from requirements for loans and hardship distributions for participants of qualified retirement plans who have been adversely affected by Hurricane...more

Patterson Belknap Webb & Tyler LLP

Hurricane Sandy - Paths To Relief

Many small and mid-size businesses in New York City suffered severe losses due to Hurricane Sandy. Below is a practical guide for business owners seeking relief. • Insurance. - The first place business owners...more

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