No Penalties for Victims of Fraud Act

Hozzl · 2025-04-01T04:38:23Z

Explore the details of House Bill 2163 No Penalties for Victims of Fraud Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

4/1/2025, 4:38 AM

Summary of Bill HR 2163

Bill 119 HR 2163, also known as the "Retirement Account Fraud Victims Relief Act," aims to amend the Internal Revenue Code of 1986 to provide relief for individuals who have been victims of fraud. Specifically, this bill seeks to waive early withdrawal penalties from retirement accounts for these victims.

Under current law, individuals who withdraw funds from their retirement accounts before reaching a certain age are subject to early withdrawal penalties. However, this bill recognizes that victims of fraud may need to access their retirement savings earlier than planned in order to recover from financial losses incurred as a result of the fraud.

By waiving these penalties for fraud victims, this bill aims to provide much-needed financial relief and flexibility to those who have been wronged. This legislation is non-partisan in nature and focuses on helping individuals who have been impacted by fraudulent activities. Overall, the Retirement Account Fraud Victims Relief Act seeks to support and protect individuals who have been victims of fraud by allowing them to access their retirement savings without facing additional financial penalties.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill HR 2163

Bill HR 2163 is currently in the status of Bill Introduced since March 14, 2025. Bill HR 2163 was introduced during Congress 119 and was introduced to the House on March 14, 2025. Bill HR 2163's most recent activity was Referred to the House Committee on Ways and Means. as of March 14, 2025

Bipartisan Support of Bill HR 2163

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 2163

Primary Policy Focus

Alternate Title(s) of Bill HR 2163

To amend the Internal Revenue Code of 1986 to waive early withdrawal penalties from retirement accounts for victims of fraud.To amend the Internal Revenue Code of 1986 to waive early withdrawal penalties from retirement accounts for victims of fraud.

Start holding our government accountable!