This bill amends the Internal Revenue Code of 1986 to waive the 10% early withdrawal penalty for individuals who take distributions from their retirement accounts because they are victims of fraud. This new exception applies to most eligible retirement plans, excluding defined benefit plans, providing crucial financial relief. To qualify, an individual must be designated a "victim of fraud" by the Secretary of the Treasury, requiring documentation from a law enforcement agency or a court of competent jurisdiction . This documentation must establish that a fraudulent act directly resulted in the distribution from their retirement plan. The bill further mandates that the Secretary of the Treasury issue guidance on the waiver application process within 180 days of enactment and conduct a public awareness campaign to educate the public about these new protections.