With the majority of leagues across the globe suspended due to the proliferation of COVID-19, UEFA decided to postpone Euro 2020 by a year and CONMEBOL pushed back the Copa America until 2021.
The 2019-20 season could consequently continue into the opening of the transfer window, which for most European countries will be in June, and see players required beyond the expiration of their contracts.
Following a conference call on Wednesday, the bureau of the FIFA council announced amendments to its regulations on transfers will be looked into.
The FIFA-Confederations working group will be responsible for "assessing the need for amendments or temporary dispensations to the FIFA regulations on the status and transfer of players to protect contracts for both players and clubs and adjusting player registration periods". It will also look at issues relating to the competition calendar and whether a potential support fund should be established.
FIFA president Gianni Infantino said: "This exceptional situation requires exceptional measures and decisions. This crisis impacts the entire world and that is why solutions need to take into account the interests of all stakeholders around the world.
"We have shown again today a spirit of co-operation, solidarity and unity. These must be our key drivers moving forward and I would like to thank all the confederations' presidents for their positive contributions and efforts.
"FIFA will keep in close contact with all stakeholders to assess and take the necessary steps to deal with the variety of issues we are facing. I count on the support of the whole football community moving forward."
It was also announced the European Championship and Copa America were granted slots from June 11 until July 11 in the 2021 international match calendar, with a new date for the revamped Club World Cup to be selected at a later stage.
In addition, FIFA ratified a $10million donation to the World Health Organization COVID-19 Solidarity Response Fund.