Remove contaminated clothing and flush skin with water. Get medical attention if irritation persists. Otherwise administer two glasses of water and induce vomiting. Follow with a slurry of activated charcoal and get immediate medical attention even if symptoms improve. The disposal of formaldehyde is usually restricted.
Incineration is the preferred method of disposal.
Waste water disposal permits sometimes allow small quantities to be flushed down drain with excess water. Insure compliance with all government regulations. Use local mechanical exhaust such as a chemical fume hood. Use plastic or rubber gloves that are impervious to formaldehyde. L aboratory safety goggles or similar products are recommended as good laboratory practice.