Gilmore Posted April 3, 2020 Posted April 3, 2020 Can anyone confirm if the disaster area declaration for the state of California is sufficient for the new hardship reason for disaster areas. The hardship reason mentions that the employee's principal residence or principal place of employment was located in an area designated by FEMA for individual assistance with respect to the disaster. When I look up the declaration on FEMA for California I do not see dollars designated for individual assistance, only of Public Assistance. I see in the declaration though the dollars are available for "crisis counseling" for individuals. Does anyone know if we can apply the hardship reason here in California, assuming of course the plan was or will be amended timely. Thanks very much.
mattmc82 Posted April 6, 2020 Posted April 6, 2020 that is good enough for some of the bigger platforms. The applicable Treasury regulations provide that a hardship distribution can be made available for expenses and losses (including loss of income) in connection with a disaster declared under the Stafford Act "provided that the employee's principal residence or principal place of employment at the time of the disaster was located in an area designated by FEMA for individual assistance with respect to the disaster thats about as good as the guidance gets to my knowledge
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