arrow_back Back to App

No Penalties for Early Retirement Withdrawals for Fraud Victims

New law waives penalties for early withdrawals from retirement accounts for victims of fraud. To qualify, individuals must provide documentation from law enforcement or a court proving they were victims of fraud. This aims to protect the personal finances of citizens affected by fraudulent schemes.
Key points
Fraud victims will not face penalties for early withdrawals from retirement plans.
Documentation from law enforcement or a court is required to prove the fraud.
The government will launch a public awareness campaign to inform citizens about these new protections.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_2163
Sponsor: Rep. Stevens, Haley M. [D-MI-11]
Process start date: 2025-03-14
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

No Penalties for Victims of Fraud Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2163.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-03-14.

What are the main provisions?

Key points include:

  • Fraud victims will not face penalties for early withdrawals from retirement plans.
  • Documentation from law enforcement or a court is required to prove the fraud.
  • The government will launch a public awareness campaign to inform citizens about these new protections.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Stevens, Haley M. [D-MI-11].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Taxes Courts and Law