Effect of missing client information on calculation of required minimum distributions

The calculation of the RMD for an Individual Retirement Account (IRA) or qualified retirement plan account depends on having all relevant information. The Required Minimum Distribution (RMD) Worksheet and Summary are based on the data the client provides. Any information the client withholds or that you don't enter can change the calculation of the RMD. If you are engaged to compute an RMD for your client, encourage them to provide Forms 5498 for all IRA accounts and/or end of year statements for all other qualified retirement plan accounts, as well as decedent information for all inherited accounts.
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