Which of the following statements regarding the disaster loss treatment of retirement distributions is FALSE?

Form 8915-E is used to report the distribution, any repayments, and figure the taxable amount, if any, of qualified disaster distributions.

An individual doesn't have to live in the qualified disaster area during the disaster or have sustained economic loss to take a qualified disaster distribution from a retirement plan.

Qualified disaster distributions have a limit of $100,000 in the aggregate per qualified disaster.

The 10% tax (penalty) on early distributions of retirement funds does not apply to any qualified disaster distribution.