Fishery Failures: Urgently Needed Disaster Declarations Act This bill revises the review process for making fishery resource disaster determinations. Among other things, the bill maintains the authority of the Department of Commerce to determine the existence of a fishery disaster; sets forth requirements for initiating a request for a fishery resource disaster review; provides a 120-day time frame for Commerce to evaluate a request, beginning either upon receipt or at the close of the fishery season, if the fishery season closes; establishes criteria for Commerce to use when making a determination about whether a fishery resource disaster has occurred; lists eligible uses of fishery disaster relief funds, including for habitat conservation and restoration that reduce adverse impacts to a fishery; and revises reporting requirements for the biennial report on international compliance regarding foreign fishing and international fishery agreements.