My husband changed employers in July 2016 and in August 2016 we were faced with devastating floods and our area was declared a federal disaster. We haven't rolled over the balance of his 401k yet because we need to take a partial withdrawal to help with rebuilding.
His former employer said we're only able to take a lump sum distribution or rollover the balance to the new Co. The new employer states that they can't do the hardship withdrawal if we transfer it to them because it's not part of the Co. plan.
From what we were told by someone, we should be able to make a hardship withdrawal without the 10% penalty because the IRS has waived the penalty
Until January 17, 2017.
How can we take advantage of the IRS ruling if the former or current plan says they don't allow it?