To amend the Internal Revenue Code of 1986 to allow withdrawals from individual retirement plans without penalty by individuals within areas determined by the President to be disaster areas by reason of certain natural disasters occurring in 2004.

Amends the Internal Revenue Code to permit premature distributions from certain tax-exempt retirement plans without penalty to individuals residing or holding real property within an area declared by the President as a disaster area due to a natural disaster at least part of which occurred in 2004, if such distributions are made within six months after the disaster declaration.