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HR 621 109th Congress House

Guardsmen and Reservists Financial Relief Act of 2005

Official title: To amend the Internal Revenue Code of 1986 to allow penalty-free withdrawals from retirement plans during the period that a military reservist or national guar… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to allow penalty-free withdrawals from retirement plans during the period that a military reservist or national guardsman is called to active duty for an extended period, and for other purposes.

Introduced: April 5, 2005 See on congress.gov
Taxation Armed Forces and National SecurityArmed forces reservesIncome taxIndividual retirement accounts
More subjectsShow fewer subjects
Labor and EmploymentLimitation of actionsNational GuardPension fundsTax creditsTax exclusionTax penaltiesTax refundsTax-deferred compensation plans
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 8, 2005
Referred to the House Committee on Ways and Means.
Feb 8, 2005
Introduced in House
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 Latest action February 8, 2005

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Guardsmen and Reservists Financial Relief Act of 2005 - Amends the Internal Revenue Code to exempt from the ten percent penalty on early distributions from tax-exempt retirement plans, withdrawals made by military reservists or national guardsmen called to active duty for a period in excess of 179 days or for an indefinite period. Permits reimbursement of such withdrawals within two years after the end of the active duty period.

Applies the provisions of this Act to individuals ordered or called to active duty after September 11, 2001, and before September 12, 2007, for retirement plan distributions made after September 11, 2001.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 1
R
Carter, John R.
Texas · Apr 5, 2005
Barrett, J.
· Feb 8, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 621: Guardsmen and Reservists Financial Relief Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-HR-621/
MLA
"H.R. 621: Guardsmen and Reservists Financial Relief Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-621/.
Bluebook (legal)
H.R. 621, 109th Cong. (2026), https://openamerica.io/bill/109-HR-621/.
Markdown link
[H.R. 621: Guardsmen and Reservists Financial Relief Act of 2005](https://openamerica.io/bill/109-HR-621/)
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