Form 8915-E will allow no penalties when reporting distributions from 401(k) retirement accounts. They must be reported evenly over the next 3 years, one third in each year, 2020, 2021, and 2022.
Form 8915-E was only recently approved for electronically filed returns. Our engineers are working hard on updating the program to accommodate the changes and are expected to have the update ready by February 25, 2021, as of this writing.
For more information, see; What is Form 8915-E Qualified 2020 Disaster Retirement Plan Distributions and Repayments?
Until the program is updated, if you wish to proceed, you would have to paper file. The IRS takes at least 6-8 weeks to process a paper filed return and 2-3 weeks to process an electronically filed return.
To paper file your return, see these links:
