Just to remind everyone, this Friday May 1, 2020, applications will be made available for the one time IAP hardship withdrawal. 

Below you will find the parameters for applying. 

Individual Account Plan Hardship Withdrawal Participants who are vested in the Motion Picture Industry Individual Account (“IAP”) as of the year ended December 2019 may apply for a one-time only special early withdrawal of an elected amount of need of up to 20% of their 2018 IAP account balance but not to exceed a maximum dollar limit of $20,000.

Participants must apply for this special withdrawal between May 1, 2020 and July 31, 2020 and payments must be completed no later than December 31, 2020 to be reported on a 2020 Form 1099-R for tax purposes. 

This exception is not an amendment to the IAP’s Trust Agreement and this one-time withdrawal will be subject to the hardship withdrawal provisions within IRS regulations.

Participants who are requesting the maximum available amount of $20,000 will be allowed to “gross up” their withdrawal to account for federal and state tax withholdings (i.e., Participants can withdraw $20,000 not inclusive of federal and state tax withholdings). 

If permitted by law, such a withdrawal will not be taxable if it is repaid to the IAP within three years’ time. 

The on-line application process for this withdrawal request is as follows: 



1. You must be registered on the www.MPIPHP.org website

2. The Participant must complete an on-line IAP Hardship Withdrawal Request.

3. The Participant must sign an affidavit affirming his or her temporary job loss due to the COVID-19-related health emergency; and

4. Payments will be processed in accordance with instructions provided on the IAP Withdrawal Request form. 

Please note, the application for the withdrawal will not be available for completion until May 1, 2020.